Media release from finance minister Bill English

The Government's Budget 2010 tax calculator website www.taxguide.govt.nz is proving popular with New Zealanders and demand is increasing as 1 October approaches, Finance Minister Bill English says.

"The calculator has now had almost half a million page views since the May Budget. With 1 October approaching, the website is becoming even more popular as New Zealanders seek information about how the tax changes will affect them," Mr English says.

"Budget 2010 tax changes will help lift economic growth by putting the right incentives back into the economy and encouraging savings and investment. It will also leave the vast majority of New Zealanders better off.

"The tax guide website allows people to see how the changes affect their own circumstances. It calculates their tax cut, extra GST and any additional compensation through increased Working for Families, NZ Superannuation and benefit payments.

"For example the calculator shows a family with the average household income of about $76,000, with two children and a $300 a week mortgage will get a tax cut of $45.85 and pay an extra $21.14 in GST, leaving them $24.71 better off overall.

"A typical person on the average wage of about $50,000 a year, paying $120 a week in rent and saving $50 a week, will get a tax cut of $29.42, pay an extra $13.51 in GST, leaving them $15.91 a week better off overall.

"A couple receiving NZ Superannuation with no other income will get a tax cut of $11.52 a week, a $10.12 increase in their Super payments and pay an extra $10.87 in GST. Overall they will be $10.77 a week better off.

"I'd encourage all working New Zealanders to visit the tax guide website to see how much better off they will be after 1 October," Mr English says.