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Inland Revenue

Tax Policy

PUBLISHED 30 May 2024

Budget 2024

The Government’s Budget for 2024 includes the following proposed measures:

  • increasing the personal income tax thresholds for the bottom three income tax rates
  • extending the Independent Earner Tax Credit
  • increasing the In-Work Tax Credit and the Minimum Family Tax Credit
  • introducing FamilyBoost which supports households with the cost of early childhood education, and
  • temporarily increasing the interest rate charged on overseas-based borrowers’ student loans and for late repayments

For further information about these measures, see the information available on the Budget website.

Legislation has been introduced into the House to implement these measures: Taxation (Budget Measures) Bill