Helping You Achieve the Freedoms of Time, Money and Peace of Mind
NZ Budget 2017-2018
Budget raises tax thresholds to address bracket creep.
Every taxpayer earning more than $52,000 will pay $1,060 a year or $20 a week less in tax from 1 April 2018. A taxpayer earning $22,000 will pay $560 or $11 a week less.
Lower income families will receive more from Working for Families. Accommodation supplements and student accommodation allowances are also raised.
There’s an additional $11 billion for infrastructure over 4 years, including $800 million for the rebuild of SH 1 to Kaikoura and $102 million for basic tourism infrastructure.
34,000 new Government built houses and more money for social housing are aimed at tackling housing supply and affordability issues.
Increased health spending includes $59 million to double crew ambulances and $60 million more to Pharmac for new medicines.
A $321 million Social Investment Package is targeted at tackling long-term social issues for vulnerable New Zealanders.