Budget 2024: Tax cuts calculator launched online by Government

  • 30/05/2024
The new tax cut calculator website.
The new tax cut calculator website. Photo credit: Budget 2024.

The Government launched a new tax calculator on Thursday to accompany its announcements in Budget 2024.

Finance Minister Nicola Willis presented her first Budget at Parliament at 2pm, largely in line with the National Party's tax cut pledges prior to last year's election.

The tax cuts will come into effect from July 31 in the form of adjusted tax brackets.

The Government has also made major changes to infrastructure funding, education, healthcare, and law and order.

Labour's finance spokesperson Barbara Edmonds said it's a backwards Budget that relies on borrowing to fund tax cuts, as well as making funding cuts for crucial services such as victims counselling.

She told Newshub she is "absolutely astounded by it".

The new online calculator was launched after National recently removed a previous version.