The super fund
Stuff: Tax cuts ruled out despite record surplus
$10billion of tax payers money in a general bucket. This is the best Labour could come up with. How it works in a nut shell. You pay more into it if you earn more, less if you earn less, none if you don't pay tax. We are all entitled to it (Kiwi's that is) when we get old. Probably about 66% of the minimum wage. Fantastic, more welfare to look forward to.
They just don't get it do they. I mean how hard would it be to implement a personal account system.
$10billion of tax payers money in a general bucket. This is the best Labour could come up with. How it works in a nut shell. You pay more into it if you earn more, less if you earn less, none if you don't pay tax. We are all entitled to it (Kiwi's that is) when we get old. Probably about 66% of the minimum wage. Fantastic, more welfare to look forward to.
They just don't get it do they. I mean how hard would it be to implement a personal account system.
posted by Gardener at 10:21 PM
1 Comments:
Of course it's worse than that - its "none if you don't pay tax IN NZ".
But you can still come back here for retirement and get it.
Definately makes working in Australia more attractive - build up a big personal super saving; then withdraw it and come back here to live on it AND the contributions NZer's have been making for me...
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