Black & White Accounting

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MENU
  • Home
  • Meet the Team
    • Kirsten Wise
    • Simon Hankins
    • Dave Cheetham
    • Karrie Stephens
  • Accounting
    • Key Dates
    • Tax Facts >
      • ACC Premiums
      • Depreciation Allowances
      • Entertainment
      • Fringe Benefit Tax
      • Gifting
      • Goods & Services Tax
      • GST & E-Commerce
      • Kiwisaver
      • PAYE on Salaries & Wages
      • Provisional Tax
      • Resident Withholding Tax
      • Tax Credits (formerly rebates)
      • Taxpayer Penalties
      • Working for Families Tax Credits
    • FAQ's
    • PaySauce
    • Accounting Testimonials
  • Insurance
    • Insurance Testimonials
  • Mortgages
    • Home Loans - Buying or Selling
    • First Home Buyers
    • Refinancing or Fixing
    • Debt Consolidation
    • Personal Loans
    • Interest Rate Options - Fixing or Floating
    • Types of Loans
    • The Costs
    • Mortgage Tips
    • Moving House Checklist
    • Mortgage Testimonials
  • Real Estate
  • Checklists
    • Individual Checklist
    • Business or Trust Checklist
    • Rental Checklist
    • Farming Checklist
    • Short Term Rental & AirBNB Checklist
  • News & Updates
  • Pay your invoice now
  • Contact

Tax Facts: Working for Families Tax Credits

Working for Families tax credits are available to families with dependent children aged 18 years or younger.  These are refundable, meaning that if the credits exceed the person's income tax liability they are able to be refunded to the taxpayer.

The Working for Families tax credits are made up of the following:
  • family tax credit – credits of tax paid for each dependent child
  • in-work tax credit – available to couples who work at least 30 hours a week between them and to sole parents who work at least 20 hours a week
  • parental tax credit – available to working families with a newborn child who do not receive paid parental leave or income-tested benefits
  • minimum family tax credit – this credit ensures a minimum annual family income for those families falling below the threshold

Inland Revenue administer the Working for Families tax credits, however taxpayers who receive an income-tested benefit will receive payments from Work and Income.
​
For more information just give us a call or visit the IRD website.
Supplied by
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