Families Package Bill Passed By Parliament

On 20 December 2017 Parliament passed the Families Package (Income Tax and Benefits) Bill. According to the Government, the Bill provides targeted assistance to improve incomes for low and middle-income families with children.The Government’s focus with this tax bill is to reduce child poverty.

The Families Package will:

  • boost the incomes of low- and middle-income families with children by increasing the Family Tax Credit and raising the Working for Families abatement threshold
  • introduce a Best Start tax credit to help families with costs in a child’s early years
  • introduce a Winter Energy Payment to help older New Zealanders and many of our poorest families heat their homes over winter
  • increase the rate of Orphan’s Benefit, Unsupported Child’s Benefit and Foster Care Allowance by $20.31 per week
  • increase paid parental leave to 26 weeks
  • reinstate the Independent Earner Tax Credit (IETC)
  • implement the Accommodation Supplement and Accommodation Benefit increases announced in Budget 2017
  • repeal the tax cuts and changes to Working for Families announced in Budget 2017.

Please give us a call if you have any questions or wish to discuss any of the above.

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