Social Security (Income and Cash Assets Exemptions) Amendment Regulations 2017

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2017/32

Coat of Arms of New Zealand

Social Security (Income and Cash Assets Exemptions) Amendment Regulations 2017

Patsy Reddy, Governor-General

Order in Council

At Wellington this 27th day of February 2017

Present:
The Right Hon Bill English presiding in Council

These regulations are made under sections 132 and 132AA of the Social Security Act 1964 on the advice and with the consent of the Executive Council.

Regulations

1 Title

These regulations are the Social Security (Income and Cash Assets Exemptions) Amendment Regulations 2017.

2 Commencement

These regulations come into force on 1 April 2017.

3 Principal regulations

These regulations amend the Social Security (Income and Cash Assets Exemptions) Regulations 2011 (the principal regulations).

4 Regulation 21 amended (Payments declared not to be income)

(1)

In regulation 21(2)(a)(vi), replace “31 March 2016” with “31 March 2017”.

(2)

In regulation 21(2)(a)(vi), replace “; and” with “:”.

(3)

After regulation 21(2)(a)(vi), insert:

(vii)

payments received on or after 1 April 2017 but before the close of 31 March 2018, $3.46 per hour; and

Michael Webster,
Clerk of the Executive Council.

Explanatory note

This note is not part of the regulations, but is intended to indicate their general effect.

These regulations, which come into force on 1 April 2017, amend the Social Security (Income and Cash Assets Exemptions) Regulations 2011 (the principal regulations).

Regulation 4 makes 2 amendments to regulation 21(2)(a) of the principal regulations.

One amendment relates to an hourly rate used to calculate the maximum income exemption for payments for home-based education and care of a child. The amendment ensures that the hourly rate used for payments received in the year starting on 1 April 2015 is also used for payments received in the year starting on 1 April 2016.

The other amendment adds that payments of $3.46 per hour are used for the year starting on 1 April 2017 to calculate the maximum income exemption. The increase from the per-hour payment applicable in the previous year (1 April 2016 to 31 March 2017) reflects a 1.10% increase in the New Zealand Consumers Price Index from the December 2015 quarter to the December 2016 quarter (calculated for all quarters using the New Zealand Consumers Price Index (All Groups), excluding cigarettes and other tobacco products).

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 2 March 2017.

These regulations are administered by the Ministry of Social Development.