Assumptions<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
· All net income is spent.
· No assumption is made for rent, mortgage payments or other items that do not incur GST.
· The impact of GST on prices is set at about 2 per cent as estimated by Statistics New Zealand.
· No Accommodation Supplement or Working for Families.
· Qualify for Independent Earner Tax Credit.
Individuals and families can work out how Budget 2010 tax changes personally affect them at www.taxguide.govt.nz