LEG-19-MIN-0179 – Minute: Income Tax (Minimum Family Tax Credit) Order 2019
Date | 19 November 2019 |
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Reference | LEG-19-MIN-0179 |
Document type | Cabinet committee minute |
Title | Income Tax (Minimum Family Tax Credit) Order 2019 |
Downloads | PDF (120 KB; 1 page) DOCX (97 KB; 1 page) |
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Income Tax (Minimum Family Tax Credit) Order 2019
Portfolio Revenue
On 19 November 2019, the Cabinet Legislation Committee:
1 noted that in April 2004, the government agreed to increase the minimum family tax credit on 1 April each year by an amount sufficient to ensure that families do not suffer a reduction in income when moving off a welfare benefit and into full-time paid work, from 1 April 2006 onwards [CAB Min (04) 13/4];
2 noted that the Income Tax (Minimum Family Tax Credit) Order 2019 increases the annual amount of the minimum family tax credit from $26,572 to $27,768 for the tax year beginning 1 April 2020, as allowed under section MF 7 of the Income Tax Act 2007;
3 authorised the submission to the Executive Council of the Income Tax (Minimum Family Tax Credit) Order 2019 [PCO 22507/2.0];
4 noted that the Income Tax (Minimum Family Tax Credit) Order 2019 comes into force on 1 April 2020.
Gerrard Carter
Committee Secretary
Present:
Hon Chris Hipkins (Chair)
Hon Andrew Little
Hon David Parker
Hon Stuart Nash
Hon Iain Lees-Galloway
Hon Jenny Salesa
Hon Tracey Martin
Hon Eugenie Sage
Hon Ruth Dyson (Senior Government Whip)
Officials present from:
Office of the Prime Minister
Officials Committee for LEG
Hard-copy distribution:
Minister of Revenue