New Zealand Legislation: Regulations
Regulations are laws made under Acts
This note is not part of the order, but is intended to indicate its general effect.
This order, which comes into force on 1 April 2009, increases the prescribed amount specified in section ME 1(3)(a) of the Income Tax Act 2007 from $18,460 to $20,540. The prescribed amount is used when calculating the amount that a person may be allowed as a tax credit (referred to in section ME 1 as a minimum family tax credit).