Latest news with #Budget2025
Otago Daily Times
2 hours ago
- Business
- Otago Daily Times
Budget rates relief ‘necessary'
Oamaru. PHOTO: PETER MCINTOSH Rates relief for potentially hundreds of Waitaki senior citizens through Budget 2025, is "timely and necessary", Age Concern Otago says. The Budget last week announced a rise in the income abatement threshold for SuperGold Cardholders and their households to be eligible for the maximum rebate from $31,510 to $45,000, about the same rate as a couple receiving superannuation. "In the Waitaki District alone, over 5700 people receive NZ Super, many of whom will benefit directly from this support," Age Concern Otago chief executive Mike Williams said. "While we don't have exact figures on how many will qualify, we do know that around 40% of New Zealanders aged 65 and over have virtually no other income beyond NZ Super. With nearly a quarter of Waitaki's population aged 65 or older, and rates set to rise by an average of around 10% across the district, this support is both timely and necessary." The maximum rebate for the scheme will also increase from $790 to $805, while those SuperGold cardholders with income higher than $45,000 will be eligible for a smaller rebate. Ratepayers can apply for the new maximum rebate under the new abatement thresholds after July 1. Application forms will be available from councils and will also be able to be downloaded from the New Zealand Government website ( and then submitted to local councils. Waitaki district mayor Gary Kircher is positive in his support for the move. "It's a tough budget for many, though I see some benefits in the budget for our community," he told the Oamaru Mail. "It is good to see that more of our Super Gold Card holders will be eligible for rates relief, as the government recognises the pressures on local government and their ratepayers. "This is welcome news for many of our Waitaki ratepayers, especially those on fixed incomes who own their own homes." Any over-65s with questions about eligibility can contact Waitaki District Council on 03 433 0300 or by contacting service@ Mr Kircher said there were other good news items in the Budget. "An increase of $2.7b for roads schools and hospitals will help, though at least some of those increases had already been announced. "From a council perspective, it will be extremely helpful if the government increases the ability of NZTA to match more of our funding to help councils make progress on the overall underinvestment in roading. "There will be general benefits for our community with the sensible changes to prescriptions, and improvements to our after-hours healthcare, along with an extra $1b for new health infrastructure. "However, the zero increase to many budgets and the decrease in others will be difficult for most government agencies. "I doubt that it has been an easy task for the government, and there is some good logic behind a number of changes. "Unfortunately, many people are doing it bloody hard right now and there will some who are going to be slightly better off, but not all of those most affected." Waitaki MP Miles Anderson said the district would also benefit from Budget 2025's new Investment Boost initiative, which would provide "a major new tax incentive to encourage businesses to invest, grow the economy, and lift wages". "This is great news for farms and businesses in the Waitaki and the initiative is already seeing a strong positive response from the sector. "With our region's strong rural and supporting industries we need businesses to invest in productive assets — like machinery, tools, equipment, vehicles and technology. Investment drives productivity improvements, makes firms more competitive and supports employers to improve workers' wages. "Investment Boost allows a business to immediately deduct 20% of the cost of a new asset, on top of depreciation, meaning a much lower tax bill in the year of purchase." That meant better cashflows, which in turn, makes potential investments "stack up financially", he said. On top of a $164m investment in rural health, including expanded and improved after-hours health services in Oamaru, the Budget also strengthened education provision with $1.5billion to improve student achievement, including $646m of initiatives to ensure earlier identification of, and better help for, children with additional physical, learning and behavioural needs, he said. Another $700m would deliver new schools and classrooms. "We are making smart improvements in education that will make a real difference for young people here," Mr Anderson said.
Economic Times
3 hours ago
- Climate
- Economic Times
Heavy rain raises water level in Nethravathi River in Dakshina Kannada district, people evacuated
Synopsis Continuous rainfall in Dakshina Kannada district has caused the Nethravathi River to swell, nearing the danger mark. Authorities have initiated precautionary evacuations in low-lying areas of Bantwal taluk, particularly in Aladkapadpu, where water has entered homes. Continuous rainfall in Dakshina Kannada district has led to an increase in the water level of the Nethravathi River, prompting precautionary evacuations of people from low-lying areas of Bantwal taluk, officials said on Saturday. ADVERTISEMENT This morning, the river was flowing at 7.6 metre, close to the danger mark of 8.5 metre, they said. Authorities reported water entering houses in Aladkapadpu, located in the 24th ward of the Panemangalore Municipality. Revenue officials, along with ward member Siddiq Guddeyangadi and local volunteers, assisted in relocating affected families to safer areas. Officials said the situation is being closely monitored, and more areas may be impacted if rainfall persists and water levels continue to told that more areas might come under the floodline and volunteers are monitoring the rise on an hourly basis. Water discharge from nearby dams has also contributed to the increased river flow, officials added. (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online. NEXT STORY
Economic Times
6 hours ago
- Business
- Economic Times
FIIs remain net buyers in May, infuse Rs 18,082 crore into Indian equities
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Economic Times
7 hours ago
- Business
- Economic Times
Salasar Techno Engineering Q4 net profit grows 30 pc to Rs 20 cr
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Economic Times
7 hours ago
- Business
- Economic Times
Titagarh Rail Systems Q4 results: Net profit declines 18% YoY, revenue down by 4%
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