Working for Families Tax Credits (Inland Revenue)
Inland Revenue offers Working for Families Tax Credits. These four types of payments are for families with dependent children 18 years or younger. As a family with new multiples, you may be entitled to these payments, which depend on the age and number of dependent children you care for, and your total family income and where it comes from.
The payments include:
- Family Tax Credits—ongoing financial support for families, available for parents who are working, or on a benefit.
- In-Work Tax Credits—a payment for families with dependent children, where at least one parent is working for salary or wages, or are self-employed, and working for a minimum number of hours each week (couples must work at least 30 hours; single parents, at least 20 hours).
- Minimum Family Tax Credit—a payment to ensure a that the total annual income for families with dependent children does not fall below $22,568 (after tax), provided a couples works a minimum of 30 hours per week, and single parents at least 20 hours a week.
- Parental Tax Credit—this payment helps with the costs of a new baby for eight weeks after your baby is born, and is income dependent.
Working for Families Tax Credits can be paid weekly, fortnightly or annually.
To download a factsheet on Working for Families Tax Credits, click here.