Now this just provides the break down for PAYE so it excludes all those other fun taxes such as GST, petrol, rates and booze.
For example someone earning $50K per year pays around $11,950 in tax or 23.94%. This is where it all goes:
Category Amount ($)
Social Security and Welfare 3,029.74
Core Government Services 1,856.59
No Functional Classification 1,847.41
Law & Order 424.14
Transport and Communications 308.38
Other Economic 278.65
Heritage, Culture & Recreation 154.49
Primary Services 122.21
Fuel and Energy 43.34
Housing and Community 30.26
The biggest sponge is the welfare system which includes 'Welfare for Families', second we have the government which includes office refits in Wellington and thirdly an obscure 'non functional classification' which covers (among other things) the well deserved 'Provision for Retirement and Long Service Leave' for Dept of Conservation employees.
No doubt this third category also covers the superannuation scheme for MPs' where you and I contribute $2.50 for ever $1 contributed by the MP. This means that an MP who contributes $10K p/year gets rewarded with an additional $25K from you and I. Apparently the MP superannuation fund only took 7 minutes to ratify when put to the MP vote in 1987. I am sure it also received a 100% 'yes'.
Gee, and the rest of us get KiwiSaver.
Other related posts:
I Smell a Conspiracy
Disposal of Eco-bulbs
Welcome to Vuestar
Comment by NokiaRocks, on 24-May-2007 13:37
Good to see they put a limit on it...
You paid around $39,007,799,999,999,985,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000 in Income Tax last year, or 39.00% of your income.
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