Finance Minister Michael Cullen has announced a three-year tax
cutting package, with workers on the average $45,000 wage taking home
an extra $16 a week from October.
His ninth Budget dropped the
bottom tax rate from 15 per cent to 12.5 per cent and raised the 33 per
cent and 39 per cent thresholds by $10,000 a year.
From October, the top tax rate will kick in for people earning more than $70,000 a year.
A couple with two children on the average household income
of $72,000 a year would be better off by $43 a week, including a raise
in Working for Families payments, from October.
Here is the latest of Your Thoughts on the Labour Government's 2008 budget: