Here’s what you could do with your tax cut
Photo: RNZ
Tax cuts have taken effect, though you may still have a little wait before you see the impact in your bank account, depending on your pay cycle.
The amount on offer varies depending on your income level. A single pensioner is set to get $4.31 a fortnight. Someone on $70,000 is in line for $30.75. Someone on $110,000 is set to get just over $40 a fortnight.
But what might you do with that extra money?
We've run the numbers based on a $20-per-week tax cut, to have a look at some of the options.
Pay off your mortgage faster
Any extra you can pay off your home loan will have an impact, because it goes straight on to the principal.
If you have a home loan with $500,000 left and 20 years to pay, with a 6.85 percent interest rate, and can now pay an extra $20 a week in repayments, yo...










