Property investors will no longer be able to use losses from their rental properties to inflate their eligibility for the Working for Families programme, which was introduced to help those on low incomes.Inland Revene has been given more money in today's Budget to target property investors who have been avoiding paying tax on their 'trading gains
Personal tax cuts from October 1, 2010:
NZ$0-$14,000, currently on 12.5%, will be on 10.5%
NZ$14,001-$48,000: currently on 21%, will be on 17.5%
NZ$48,001-$70,000: currently on 33%, will be on 30%
Over NZ$70,001: currently on 38%, will be on 33%
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