Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

First Parental Tax Credit Babies Due Today

From today, low-middle income working families with a new baby will receive up to $1,200 of extra family assistance, said Treasurer Bill English.

"This new Parental Tax Credit was announced at the time of the Budget but only applies for babies born from today. The payment is available in four fortnightly instalments or as a lump sum at the end of the tax year (31 March).

"The Parental Tax Credit aims to help families struggling with the extra costs and possibly reduced income following the birth of a new baby.

"The new measure is part of the Government's tax reduction programme which has seen the take-home pay of low-middle income families boosted significantly. About 50,000 working families already pay no tax at all.

"For example, a family with one income of $30,000 and four children under 13, will get $161 a week in Family Assistance for the 2000/1 tax year - but only pay $106 in tax. That means the tax system pays them $55 a week.

"If one of those children is a new baby, the family will also qualify for the full Parental Tax Credit of $1,200 in total over the 8 weeks following the birth.

"Like all the Government's family assistance measures, the Parental Tax Credit is income-tested.

"A family with four children under 13, including a baby born after 1 October 1999, will qualify for some Parental Tax Credit unless their income exceeds $61,980. A family having their first child from today will qualify for some Parental Tax Credit up to an income of $37,540.

"About 20,000 families are estimated to be eligible for the new payment each year. An Inland Revenue media campaign is underway to ensure that as many as possible will receive the extra help," said Mr English.

Ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Peters/Ardern Triumph

There are a lot of good reasons to feel joyful about this outcome. It is what so many young voters – the best hope for the country’s future – wanted.

Far more important than the implications for the Economy Gods ( is the dollar up or down? ) last night’s outcome will also mean many, many vulnerable New Zealanders will have a better life over the next three years at least.

Yet the desire for change was in the majority, across the country..>>>More


Reaction

Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome | Greens on their joining Govt | EDS welcomes new govt | Immigrant groups worry | Feds ready to engage new coalition government | Labour Ministers of the Crown announced

 

Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…More>>

ALSO:


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>

ALSO:

Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>

ALSO:

Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>

ALSO:

Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>

ALSO:

Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>

ALSO:

Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election