Social Security (Income and Cash Assets Exemptions) Amendment Regulations 2018

2018/21

Coat of Arms of New Zealand

Social Security (Income and Cash Assets Exemptions) Amendment Regulations 2018

Patsy Reddy, Governor-General

Order in Council

At Wellington this 26th day of February 2018

Present:
The Right Hon Jacinda Ardern 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 2018.

2 Commencement

These regulations come into force on 1 April 2018.

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)(vii), replace “; and” with “:”.

(2)

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

(viii)

payments received on or after 1 April 2018 but before the close of 31 March 2019, $3.51 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 2018, amend the Social Security (Income and Cash Assets Exemptions) Regulations 2011 (the principal regulations).

Regulation 21(2)(a) of the principal regulations is amended to add that payments of $3.51 per hour are used for the year 1 April 2018 to 31 March 2019 to calculate the maximum income exemption for home-based education and care of a child. The increase from the per-hour payment applicable in the previous year (1 April 2017 to 31 March 2018) reflects a 1.36% increase in the New Zealand Consumers Price Index from the December 2016 quarter to the December 2017 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: 1 March 2018.

These regulations are administered by the Ministry of Social Development.