T
46 days ago

The Great Tax Robbery

Tony from Tahunanui

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.

More messages from your neighbours
4 days ago

Our sweet pea seeds send out, April issue and Get Growing

Mei Leng Wong Reporter from NZ Gardener & Get Growing

Dear neighbours and NZ Gardener family,

Our April issue should be with our subscribers now and available in supermarkets and service stations (having been distributed prior to the lockdown restrictions). Whether or not it's on the stands yet is a bit patchy ... but then the incredibly brave and hard-working supermarket staff have quite a bit on their plate right now so I understand if there is a delay! Please, please, please everyone ... don't go out to buy it! Normally of course we love you buying NZ Gardener but right now it's far more important that you stay home and stay safe. (You can buy a copy with your online shopping though! That's safe and I think we are all in the market for something uplifting to read right now).

In this issue we offered to send out sweet pea seeds to any reader who sent us a SSAE. Just to reassure you, we will still send out sweet pea seeds to any reader who is keen to participate. We are just not quite sure when! Ignore the dates in the magazine of when you needed to send the envelope in by - that has been indefinitely extended. But we cannot wait to send you the seed and for those flowers to bloom as by then we will be well through this or even have it behind us. And keep letting us know what you are sowing and growing, send in pictures of your harvest, your flowers or what you are sharing.

We always love hearing from NZ Gardener readers but now when we are all staying apart that connection means more than you can imagine. Stay home, stay safe and stay in touch everyone. For the most updated gardening advice, subscribe to our digital e-zine Get Growing, which will be delivered to your inbox completely free.

Image
2 hours ago

Best wishes

Tom from Property Maintenance Marlborough

Hi everybody, be safe, positive and look after each other. Can I provide help over the phone regarding urgent residential property issues, please contact me on 0274804667, will be my pleasure to offer assistance. Cheers Tom

4 hours ago

Coronavirus: Two new cases for the top of the south

Tim Newman Reporter from The Nelson Mail

While there have been no new reported cases of coronavirus in Nelson on Saturday, there has been one confirmed case and one probable case in Marlborough since Friday.

Image