New Zealand Legislation: Regulations

3 Increase of prescribed amount in formula for minimum family tax credit

• (1) The amount appearing as an item in the formula for the minimum family tax credit in section ME 1(3)(a) of the Income Tax Act 2007 is increased to $20,540.

  (2) Subclause (1) applies in respect of the 2009–10 tax year and later tax years.