2010 NZ Budget

The more I look at the budget the better I think it is.
Well done Bill English :-)

15% GST (from 12.5%) starting on the 1st of October -
Giving people enough time to get the larger items before hand. One small step for our economy to get back into the black, one giant leap for businesses (with the added bonus of business tax going from 33% down to 28%) and creating jobs.

Lowering the income tax helps to increase spending.
from http://www.nbr.co.nz/article/budget-2010-tax-reductions-detail-123294
"Key tax changes
All personal income tax rates will be cut from October 1, 2010.
Income up to $14,000 will be taxed at 10.5%, down from 12.5%.
Income from $14,001 to $48,000 drops to 17.5% from 21%
Income from $48,001-$70,000 down to 30% from 33%
Income over $70,000 will be cut to 33% from 38%.
"

But all spending is only within a certain time frame, people are having to think about what they are needing to buy before the time is up, what are the big ticket items that will be best to buy before the price increases by 2.5%.

To quote some graffitti from when I was a young lass that I have memorised (look at the poem in the opposite direction)
"Prices rise and profits hope, pay stays low so buying stops, goods won't sell so workers sacked, don't look now depressions back. Workers unite to protect wages and fight unemployment."

Depreciation deductions will be removed from buildings bought for businesses including rental properties. Which for most of us landlords is not too much of a burdon.
This should also help keep landlords in the game so they don't have to sell, in my opinion it means that there will still be enough rentals for those wanting to rent. There may be more houses available and cheaper for those who now want to buy and also should mean that rents won't need to go up considerably as landlords scramble to survive (keep their future nest eggs above water).