Budget announcements 2009 - a quick summary
- Personal income tax cuts planned for 1 April 2010 and 1 April 2011 have been delayed. Tax cuts that came into effect on 1 April 2009 remain.
- The increase in the independent earner tax credit (IETC) planned for 1 April 2010 has been cancelled.
- The KiwiSaver mortgage diversion facility closes to new applicants from 1 June 2009. It will remain available to existing participants.
For more information go to the Policy Advice Division website.
We will update the relevant pages on our website over the next month. The KiwiSaver website has already been updated to reflect the closure of the mortgage diversion facility.
Date published: 09 Jun 2009
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