The Great Tax Robbery
The Great Tax Robbery
If you are able to save from your salary or wages you are being robbed – not by the banks but by the government.
Once you have, say, $1000 saved you may prefer to risk it on the share market but until you do the following happens (using current BNZ rates as it is our biggest bank but use your own figures, it does not change the story):
$1000 invested at 2.6% for 12 months gains $26 interest. Tax (at 30%) takes $7.80 leaving a new total of $1018.20 which ‘looks like’ profit of $18.20 BUT IS NOT.
With inflation (around) 2% though the real value, the purchasing power, of your original $1000 PLUS that interest (1018.20 x 0.98) is now only $997.84
Your $1000 (in terms of what it can buy) has lost money and the Government has taxed your losses – this only happens to savers, generally working people and the retired, not rich investors.
Robbery.
Black Friday Sale
Black Friday 2024 Sale – One Day Only!
Join us at the Red Cross Super Store in Richmond for unbeatable deals today for Black Friday! 🛍️
Today Only: 8am–6pm
Don’t miss out!!
'Write for Rights' day on Saturday 7 December
Amnesty International’s movement of ten million celebrates the world’s biggest human rights event on Human Rights Day on 10 December. New Zealanders will take action to stand up for freedom, justice and equality through its 'Write for Rights' day on Saturday 7 December.
Date: Saturday 7 December
Time 2.00 - 4.30pm
Venue: Friends Meeting House, 30 Nile St, Nelson.
Our collective action pressures authorities around the world to bring those responsible for human rights abuses to justice, and to free people wrongfully imprisoned. Here in Nelson our annual gathering to write letters and send messages of support to victims of human rights abuses around the world will take place at the Friends Meeting House on Saturday 7 December.
Please bring a small contribution for a shared afternoon tea. Tea and coffee will be provided.
And please encourage others concerned about human rights issues to come too - all are welcome!
What's your favourite recipe for courgettes?
Kia ora neighbours. If you've got a family recipe for courgettes, we'd love to see it and maybe publish it in our magazine. Send your recipe to mailbox@nzgardener.co.nz, and if we use it in the mag, you will receive a free copy of our January 2025 issue.
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