Social Security (Temporary Additional Support) Amendment Regulations (No 2) 2018

2018/110

Coat of Arms of New Zealand

Social Security (Temporary Additional Support) Amendment Regulations (No 2) 2018

Rt Hon Dame Sian Elias, Administrator of the Government

Order in Council

At Wellington this 2nd day of July 2018

Present:
Her Excellency the Administrator of the Government in Council

These regulations are made under section 132AB 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 (Temporary Additional Support) Amendment Regulations (No 2) 2018.

2 Commencement

These regulations come into force on 3 July 2018.

3 Principal regulations

These regulations amend the Social Security (Temporary Additional Support) Regulations 2005 (the principal regulations).

4 Regulation 4 (Interpretation)

In regulation 4, insert in their appropriate alphabetical order:

Best Start tax credit means a tax credit under section MG 1 of the Income Tax Act 2007 (as that section is inserted on 1 July 2018 by section 22 of the Families Package (Income Tax and Benefits) Act 2017)

lump sum payment of arrears of Best Start tax credit means a lump sum payment of a Best Start tax credit made to a person entitled to the credit for an entitlement period for a dependent child if (and only if)—

(a)

the entitlement period ends before 1 July 2018; and

(b)

the dependent child is born before 1 July 2018, but the expected due date for the child is on or after 1 July 2018

5 Regulation 8 amended (Cash assets defined)

After regulation 8(3)(db), insert:

(dc)

for the first 12 months after the payment concerned is made, any lump sum payment of arrears of Best Start tax credit made to a person on or after 3 July 2018; or

(dd)

for the first 12 months after any payment of a kind referred to in paragraph (dc) is made, any amount of income derived by the person from that payment; or

6 Schedule 1 amended

In Schedule 1, after clause 5AB, insert:

5AC

For the first 12 months after the payment concerned is made, the items referred to in clause 1 do not include—

(a)

any lump sum payment of arrears of Best Start tax credit made to a person on or after 3 July 2018:

(b)

any income derived by the person from a payment referred to in paragraph (a).

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 3 July 2018, are made under the Social Security Act 1964 (the Act). They amend the Social Security (Temporary Additional Support) Regulations 2005.

The amendments relate to a lump sum payment of arrears of Best Start tax credit made, on or after 3 July 2018, to a person entitled to the credit for an entitlement period for a dependent child if (and only if)—

  • the entitlement period ends before 1 July 2018; and

  • the dependent child is born before 1 July 2018, but the expected due date for the child is on or after 1 July 2018.

The amendments ensure that, for the first 12 months after the lump sum payment is made, the payment, and any income derived from the payment, is excluded from—

  • the person’s cash assets (for the purposes of temporary additional support):

  • the person’s chargeable income (for those purposes).

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 2 July 2018.

These regulations are administered by the Ministry of Social Development.