2010 budget

The 2010 Budget was released by the Government on 20 May 2010 and has been hailed as one of the most radical budgets in recent years.

Budget 2010 Highlights

  • Substantial reductions in personal tax rates from October 1st, 2010
  • Reduction in company tax rate to 28% from April 1st, 2011
  • Increase in GST to 15% from April 1st, 2011
  • Elimination of depreciation write-offs on most buildings including rental properties
  • LAQC rules to be tightened to reduce property speculation
  • Increased budget for IRD to clamp down on tax avoidance
  • Benefits to rise to compensate for higher GST
  • Extra funding for education and health

2010 Budget Articles

Effective tax rates in NZ, Aus and the UK

How do New Zealand's income tax rates stack up against those of countries our young emmigrees flock to? Here's a comparison of headline income tax rates in New Zealand, Australia and the United Kingdom.

Lower Income tax rates in 2010 Budget

The 2010 Budget has delivered substantial income tax rate cuts across the board, including a drop in the top tax rate to 33%. Changes come into effect as of 1 October 2010.