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.
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