Optimal Business Solutions, Accounting Services, Lower Hutt, New Zealand

Working for Families tax credits are payments for families with dependent children aged 18 or under.

There are four different Working for Families Tax Credits:

• Family tax credit – a payment for each child in the family
• In-work tax credit – a payment to eligible families who are not receiving an income-tested benefit or student allowance and have some income from paid work each week
• Minimum family tax credit – a payment to make sure families are getting a basic income where the parents are working the required number of hours for salary and wages
• Best Start – a special payment for up to 3 years for children born on or after 1 July 2018. This replaced the Parental tax credit from 1 July 2018.

Inland Revenue administer the Working for Families tax credits, however taxpayers who receive an income-tested benefit will receive payments from Work and Income.

For more information just give us a call or visit the IRD website.

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