Hon Dr Michael Cullen
Minister of Revenue
MEDIA STATEMENT
Child tax rebate more than doubled
The number of children required to pay tax will be reduced from next April when the child tax rebate is increased from $156 a year to $351, Revenue Minister Michael Cullen announced today.
The change, which will be included in the next tax bill, will increase the amount of income, excluding interest and dividends, that a child can earn tax free from $1040 to $2340 a year and could benefit up to 30,000 children.
Dr Cullen said cost to the government was estimated at $7.2 million a year.
The rebate was last adjusted in 1983.
Contact: Patricia Herbert [press secretary] 04-471-9412 or 021-270-9013. E-mail: [email protected]