Inland Revenue - Tax policy Tax Policy

News and information about the Government's tax policy work programme, including:
- proposed changes to the laws that Inland Revenue is responsible for
- updates on the progress of bills through Parliament
- policy announcements

Minimum family tax credit to rise next year

17 November 2014

The annual amount of the minimum family tax credit that guarantees a working family’s after-tax income will rise from $22,776 to $23,036 from 1 April 2015. The new rate was set by Order in Council today. For more information see the media statement.


Hon Todd McClay
Minister of Revenue

Media statement

17 November 2014

Minimum family tax credit to rise next year

Revenue Minister Todd McClay says working families who are eligible for the minimum family tax credit will receive a small increase from 1 April next year.

The tax credit currently guarantees recipients an after-tax income of $22,776 per year. This will increase to $23,036 per year from 1 April 2015.

“The minimum family tax credit provides a guaranteed minimum family income to families who are in work, and helps support them in moving off a benefit and into paid employment,” says Mr McClay.

The increase, which takes into account rises in inflation, was approved by Order in Council today.

Media contact: Lesley Hamilton 027 490 1345