Some financial relief will kick in for parents, landlords, and Auckland motorists from today.
Families will receive early childhood education tax credits of up to $75 per week. The rate for paid parental leave will also increase from $712.17 to $754.87 – a rise of more than $40 in Kiwis’ pockets.
The Brightline test will also be reduced from 10 years to two, meaning investment property owners will no longer have to wait a decade to sell up to avoid paying any tax on their capital gains.
There will also be relief at the pump in our largest city with the end of the Auckland Regional Fuel Tax. The Automobile Association has warned it will be closely monitoring fuel companies to ensure the savings are passed on to the consumer.
However, the $5 prescription fee at pharmacies will be returning, except for people under the age of 14 or those aged 65 and over. Prescriptions will remain free for people with Community Services cards.
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