The new Families Package comes into effect on 1st July 2018
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Introducing the Best Start Tax Credit:
Take a look at the following SmartStart site which provides step-by-step information and support to help you access the right services for you and your baby.
Check out: https://smartstart.services.govt.nz/
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Expanding Working for Families Tax Credits & Paid Parental Leave
Below is a summary of Working for Families changes happening in 2018:
1 April 2018
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The Minimum Family Tax Credit income limit will increase from $23,816 to $26,156 a year after tax.
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Accommodation Supplement maximum rates will increase and some places will move into a different Accommodation Supplement Area. This means, if you’re getting Accommodation Supplement:
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it may go up regardless of where you live
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if you live in a place that moves to a different Area, it could go up significantly.
1 July 2018
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Best Start is a new payment from Inland Revenue. You can get $60 a week for each child born (or due) on or after 1 July 2018, until they turn 1. Then, from the age of 1 until they turn 3, how much you get will depend on your and your partner’s income.
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The Family Tax Credit for most children will increase.
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The income threshold for some Working for Families tax credits will increase from $36,350 to $42,700 a year and the abatement rate will increase
