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Inland Revenue

Tax Policy

PUBLISHED 25 May 2017

Budget bill tabled - Family Incomes Package

The Taxation (Budget Measures: Family Incomes Package) Bill was introduced into the House today. The bill, which will be debated under urgency, contains proposals to adjust the bottom two tax thresholds, repeal the Independent Earner Tax Credit, increase the Family Tax Credit rates for children under 16, and increase the abatement rate and decrease the abatement threshold for Working for Families Tax Credits.

For more information on the tax threshold and Working for Families proposals see the regulatory impact statement.