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Inland Revenue
Inland Revenue
Inland Revenue

Tax Policy

Announcements
PUBLISHED 19 May 2022

Budget 2022

Finance Minister Grant Robertson has announced the Government’s Budget for 2022. Included in today’s announcement were:

  • A cost of living payment to New Zealanders earning up to $70,000 in the 2021/22 year. This payment of $350 divided over three months will be paid to eligible people from 1 August. There is no application process. Inland Revenue will assess eligibility and pay the money direct into bank accounts.
  • The Government also announced that from 1 July 2023 child support collected by Inland Revenue will be passed on to sole parent beneficiaries.
  • In addition, the Budget provides permanent baseline funding for Inland Revenue’s on-going administration of the research and development tax incentive. Current funding was due to expire on 30 June 2022.
  • The Budget also provides Inland Revenue with funding to maintain capability to support ongoing integrity work and manage cost pressures.

Full coverage of the Budget announcements is available at www.budget.govt.nz