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The New Zealand Superannuation Fund (Māori: Te Kaitiaki Tahua Penihana Kaumātua o Aotearoa) is a sovereign wealth fund in New Zealand.New Zealand currently provides universal superannuation for people over 65 years of age and the purpose of the Fund is to partially pre-fund the future cost of the New Zealand Superannuation pension, which is expected to increase as a result of New Zealand's ...
The 2023 New Zealand mini-budget generated NZ$7.5 billion worth of savings by stopping 15 programmes including 20 hours of free childcare for two-year-olds (worth NZ$1.2 billion), eliminating depreciation for commercial buildings (NZ$2.3 billion) and disestablishing the Climate Emergency Response Fund (NZ$2 billion). [2]
The government taxes New Zealand Superannuation at a rate which depends on recipients' other income. [20] The amount of superannuation paid depends on the person's household situation. For a married couple the net of tax amount is set by legislation to be no less than 65% of the net average wage, although the Fifth Labour Government increased ...
Budget 2024 is the New Zealand budget for fiscal year 2024/25 presented to the House of Representatives by Minister of Finance, Nicola Willis, on 30 May 2024 as the first budget presented by the Sixth National Government, [1] [2] ignoring the mini-budget they presented in December 2023.
In November 2024, New Zealand's ranking on the 20th Climate Change Performance Index dropped by seven places to 41. The report's authors wrote that New Zealand had "taken significant backwards steps in climate policy" due to the Government scrapping policies boosting public transportation and delaying pricing greenhouse emissions from farming.
According to figures released by the Ministry between December 2023 and June 2024, the number of people living in emergency housing had declined from 3,141 to 2,133. Of this figure, 27% had move into social housing, 21% into transitional housing and 28% into private rentals.
Investing over NZ$1 billion to increase staff wages and numbers for the 2023–2024 financial year, including NZ$63 million to improving staffing levels and recruiting 500 new nurses. [ 4 ] [ 1 ] Investing NZ$864 million in the delivery of disability services.
The 2010 New Zealand budget announced cuts to personal tax-rates, with the top personal tax-rate reduced from 38% to 33% [111] The cuts gave New Zealand the second-lowest personal tax burden in the OECD. Only Mexico's citizens retained a higher percentage-wise "take home" proportion of their salaries.
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