Budget 2024: Your tax cut explained – Stuff 30 May 2024

Summarised by Centrist

The New Zealand government’s Budget 2024 introduces tax cuts effective from July 31. The tax thresholds will increase: the first $15,600 of income will be taxed at 10.5%, $15,600 to $53,500 at 17.5%, and $53,501 to $78,100 at 30%.

The FamilyBoost policy will also begin, reimbursing parents up to $150 fortnightly for early childhood education fees. These changes aim to provide financial relief, especially to low and middle-income households.

Read more over at Stuff