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Thread: Tax Credits

  1. #1
    Join Date
    Jul 2012
    Location
    India->Malaysia->Auckland
    Posts
    242

    Question Tax Credits

    Hey Guys,

    How are you all !!!

    Wanted to know what ways a person can earn tax credits (if he is doing regular 40 hrs a week Tax code 'M' category)
    example: Child benefits


    Are there any other ways?

  2. #2
    Join Date
    Feb 2008
    Posts
    35,990

  3. #3
    Join Date
    Jul 2012
    Location
    India->Malaysia->Auckland
    Posts
    242

    Default

    Thanks JandM

    I read it long before we could claim back public transport monthly pass amount as Tax credit (is this true and given on the ird website)

  4. #4
    Join Date
    Feb 2008
    Posts
    35,990

    Default

    This is too complicated for there to be an easy answer.

    Some travel expenses can be allowable against tax in some circumstances, but it depends exactly where and why the person is travelling, and what is the nature of their employment. It's most commonly people who are self-employed who get this allowance - an employee can't claim for, for instance, travelling to and from work. See this page, and the links off it. http://www.ird.govt.nz/business-income-tax/expenses/

  5. #5
    Join Date
    Oct 2014
    Location
    New Zealand
    Posts
    3

    Default

    Hi guys

    This can be a complicated question. In general an employee being paid through PAYE wage or salary can't claim any expenses. This includes expenses such as travelling to work. Work related expenses paid for by an employee are generally only tax deductible through the company employing them. For example if an employee is asked to drive 200km to help out a client, the employee can't claim this expense. What would generally happen is the employee submits an expense claim to their employer and the employer claims the tax deduction.

    Below is basically the only tax credits left in New Zealand:

    Donations - If you made a donation and have the official receipt. Note this can include some school fees.
    Working for Families Tax Credits - If you have children you are likely to be able to get a tax credit. This is based on the number of children, hours worked, total family income and a few other criteria. If you need advice around this let me know.

    Hope this helps for you.

    Kind regards

    [Edited to remove details - please see forum rules 10 and 12. http://www.enz.org/forum/showthread.php?t=40236]

  6. #6
    Join Date
    Feb 2012
    Location
    UK > Silverwood, Whitby, NZ
    Posts
    288

    Default

    Not sure this is the sort of thing the OP was looking for, but you can claim tax relief for premiums you pay on an income protection policy, providing any payout under the policy is taxable.

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