Working for Families Tax Credits 2016 – 2017
Weekly Payments (1 April 2016 – 31 March 2017)
Family Tax Credit (FTC) and In-Work Tax Credit (IWTC)
Family tax credit is paid regardless of your source of income. In-work tax credit is for families who normally work a minimum number of hours each week.
The rates on the chart are based on your eldest child being under 16 and all other children being under 13. To work out how much you can expect if you have children older than this you’ll need to:
• add $9 to the “FTC” amount for each child (other than the eldest) aged 13, 14 or 15
• add $9 to the “FTC” amount if your eldest child is 16, 17 or 18
•add $26 to the “FTC” amount for any other child aged 16, 17 or 18
If you’re receiving a foster care allowance (board payments from Child, Youth and Family) or an orphan’s or unsupported child benefit, the amounts listed in the chart above may not apply to you.
IRD’s calculator “Estimate your Working for Families Tax Credits” in the “Work it out” section, can help you estimate your entitlement. Or you can call IRD on 0800 227 773 for help calculating your entitlement.
Minimum Family Tax Credit
If your family income is below $23,764 a year after tax (or $27,617 before tax), you may also be entitled to this payment.
Parental Tax Credit
These figures apply to children born on or after 1 April 2016.
This is a payment for up to ten weeks after a new baby arrives in your family. You can receive up to $220 a week for the first 10 weeks (70 days) depending on your family income.
The rates shown assume you have one newborn and are entitled to the in-work tax credit. If your situation is different, please call IRD on 0800 227 773.
• The amounts in the charts are estimates only, and are initial payment amounts which may alter if your circumstances change. If your income is above $120,500 or you have more than six children, use IRD’s calculator “Estimate your Working for Families Tax Credits” in the “Work it out” section, can help you estimate your entitlement, or call 0800 227 773.
• To see which payment type you are eligible to receive, go to www.ird.govt.nz/wff-tax-credits/entitlement/what-is-wfftc
• You can’t receive Working for Families Tax Credits (WfFTC) and the independent earner tax credit (IETC) at the same time. If you currently receive the IETC by using the ME or ME SL tax code and are entitled to WfFTC, you must change your tax code with your employer at the same time as you apply for WfFTC.