LEG-19-MIN-0179 – Minute: Income Tax (Minimum Family Tax Credit) Order 2019

Date 19 November 2019
Reference LEG-19-MIN-0179
Document type Cabinet committee minute
Title Income Tax (Minimum Family Tax Credit) Order 2019
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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