Budget 2022

Finance Minister Grant Robertson has announced the Government’s Budget for 2022. Included in today’s announcement were:

• A cost of living payment to New Zealanders earning up to $70,000 in the 2021/22 year. This payment of $350 divided over three months will be paid to eligible people from 1 August. There is no application process. Inland Revenue will assess eligibility and pay the money direct into bank accounts.
• The Government also announced that from 1 July 2023 child support collected by Inland Revenue will be passed on to sole parent beneficiaries.
• In addition, the Budget provides permanent baseline funding for Inland Revenue’s on-going administration of the research and development tax incentive. Current funding was due to expire on 30 June 2022.
• The Budget also provides Inland Revenue with funding to maintain capability to support ongoing integrity work and manage cost pressures.

Full coverage of the Budget announcements is available at www.budget.govt.nz