The New Zealand budget for fiscal year 2010-2011 was presented to the

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on 20 May 2010. This was the second budget Bill English has presented as Minister of Finance.

Outline

Tax changes

The main feature of the 2010 Budget was a tax package that lowered income taxes, reduced the company tax rate to 28%, and raised GST to 15%. There were increases to Superannuation, Working for Families and Benefits to compensate for the GST increase. New income tax rates from 2010 are: Depreciation on buildings with a life exceeding 50 years was removed, resulting in an increase of tax paid on property, and Loss Attributing Qualifying Companies were abolished and replaced with Look-through company, subject to much tighter rules. The 2010 Budget included new spending of $1.8 billion in health, education, research and broadband rollout. The Budget forecast a return to fiscal surplus in 2016.

References

{{DEFAULTSORT:2010 New Zealand Budget Budget, 2010 New Zealand budgets New Zealand budget May 2010 events in New Zealand