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Dear John --
Nicola Willis and I have just
announced National’s tax relief policy.
We're fighting back
for the squeezed middle — New Zealanders who are working hard but
watching their incomes being eaten by high taxes and rising costs.
This is a major part of our plan to rebuild the economy and
reduce the cost of living.
Under National’s Back Pocket Boost, New Zealanders will be
better off by:
- Up to
$250 more a fortnight for an average-income family with young
children
- Up to
$100 more a fortnight for an average-income household with no
children
- Up to
$20 more a fortnight for a full-time minimum-wage earner, and lowering
the tax they pay for additional hours worked
- Up to
$26 more a fortnight for a superannuitant couple.
Here's the bottom line: a
family on an average income of $120,000 will be up to $250 a fortnight
better off.
Child-free households on an average
income will have an extra $100 in their pockets every fortnight.
It's about time you got relief from
Labour's cost-of-living crisis, and National will deliver
it.
Our changes to the personal income tax brackets are carefully
targeted, ensuring that hardworking New Zealanders benefit the
most.
It's not fair that someone on the
minimum wage comes close to the 30% tax rate for additional hours
worked. Under our plan, that same worker will only pay 17.5% tax on
extra hours.
Our tax relief will take effect
from 1 July 2024 and will be achieved by:
- Shifting
income tax brackets to compensate for inflation
- Expanding tax credits to reach more modest income
earners
- Introducing the FamilyBoost childcare tax
credit
- Increasing Working for Families tax credits for working families
(from 1 April 2024).
For all the details on how the Back
Pocket Boost will affect you, I encourage you to read more here.
READ OUR TAX PLAN
Thank you for standing with us in
these critical times.
Together, we can get our country back on
track.
Yours sincerely,
Christopher Luxon
National Party Leader
P.S. We can't get
this done without your help. A donation to our campaign fund will
ensure we run a strong campaign to get New Zealand back on the track.
Donate right now.
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