what tax cuts???

according to the 2010 Budget Tax Guide...I will spend $4.90 a week extra on GST

so that is the rise they have given me on my benefit

they have forgotten that I pay $200 a week rent...which will mean a $5 a week gst rise..and that is before phone, power and food....so I guess I am just going to have to tighten the belt even more.....this disgusts me when I see people getting thoud=sands of S's more in their pay-packets

You shouldnt pay GST on rent.

I'm pretty happy with my cut personally. But will be interested to see how it pans out for people like you.
Have you worked out what the extra 2.5% will cost you on average?

Phone line rental is $50 ish, is thats $1.25 extra....

ok so i will be getting an extra $17.60 a month

phone and internet....$200 a month= $15.00 gst extra gst $3.75
power $160 a month = ???
food $160 a month = $45.00 gst $11.25

my brain can't work out the middle figure yet

I read you have to pass more than half your courses to be eligible for a student loan. Is this correct or is it to be eligible to have it interest free?

For the first way of looking at it I strongly disagree. For the second way of looking at it I am largely supportive.

also dabiarh you need to work out uor power bills etc without gst. because at the moment you also putting the extra gst on gst.

so currently your bill is 45 bucks for example so that is 39 before gst so your new bill will be 45.28.

I think this is how it will work anyway??? though I'm hungry and might be working t out wrong

Yes....that is how we understand it at EIT......if you fail more than half your course you are outta there or pay for it yourself

the last figure on the end was the extra gst.....with that i will be paying....i think

dabiarch wrote:the last figure on the end was the extra gst.....with that i will be paying....i think

I'm thinking my english/typing skills have confused you?

yes your new bill will actually only rise by about 38 cents or something

dabiarch wrote:Yes....that is how we understand it at EIT......if you fail more than half your course you are outta there or pay for it yourself

Considering I believe education to be one of the most fundamental aspects of creating a civilised society, I am strongly against this. It's also pretty hard to chose a career these days, well it certainly feels so with us ME ME ME ME generation Y's

There is a huge proportion of my friends who have started 2 -3 different degrees / tertiary career paths. Certainly 5o1 and I are included. This doesn't necessarily mean these people are failing though. I have a friend who began med-school, crossed over to theology (became an atheist while obtaining the degree lol) and now wants to do post grad in journalism.

Meh, it will be interesting to see whether long term this would harm the economy or improve it. I wonder what it would do to unemployment rates?

yes it most certainly will be interesting.....our disability students quite often have issues beyond their control that means they either fail or are forced to withdraw from some papers......these students may no longer be eligible for their loans....it will be a sad day for NZ society

although there was talk of checking out the Human Rights Act if this does come up

I need to draw myself a picture of GST.

I find it quite hard to get my head around sometimes. I need a visual.

ydekm wrote: I need a visual.

inclusive price = (exclusive price x rate) + exclusive price

When GST is 12.5%, GST = inclusive price / 9.33333 and
exclusive price = inclusive price - (inclusive price / 9.33333)

When GST is 15.0%, GST = inclusive price / 7.66666 and
exclusive price = inclusive price - (inclusive price / 7.66666)

Or, more briefly:

i=(e*r)+e

When the GST rate is 12%:
GST=i/9.33333
e=i-(i/9.33333)


When the GST rate is 15%:
GST=i/7.66666
e=i-(i/7.66666)

hahaha I can read. But I need to see pictures or draw one. I'll do it myself later.