Taxation (Support for Children in Hardship) Act 2015
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Taxation (Support for Children in Hardship) Act 2015
Public Act |
2015 No 118 |
|
Date of assent |
9 December 2015 |
|
Commencement |
see section 2 |
Contents
The Parliament of New Zealand enacts as follows:
1 Title
This Act is the Taxation (Support for Children in Hardship) Act 2015.
2 Commencement
(1)
Sections 4 and 5 come into force on 1 April 2016.
(2)
The rest of this Act comes into force on the day after the date on which it receives the Royal assent.
Amendments to Income Tax Act 2007
3 Income Tax Act 2007
Sections 4 and 5 amend the Income Tax Act 2007.
4 Section MD 10 amended (Calculation of in-work tax credit)
In section MD 10(3)(a), replace “$3,120”
with “$3,770”
.
5 Section MD 13 amended (Calculation of family credit abatement)
In section MD 13(3)(a),—
(a)
in subparagraph (i), replace “21.25 cents”
with “22.5 cents”
:
(b)
in subparagraph (ii), replace “21.25 cents”
with “22.5 cents”
.
Amendments to Taxation (Annual Rates and Budget Measures) Act 2011
6 Taxation (Annual Rates and Budget Measures) Act 2011
7 Section 2 amended (Commencement)
(1)
In section 2(3), replace “Section 5(2) comes”
with “Sections 5(2) and 14B(1) come”
.
(2)
In section 2(4), replace “Section 5(3) comes”
with “Sections 5(3) and 14B(2) come”
.
(3)
In section 2(5), replace “Section 5(4) comes”
with “Sections 5(4) and 14B(3) come”
.
8 Section 4 amended (Income Tax Act 2007)
In section 4, replace “Sections 5 to 14”
with “Sections 5 to 14B”
.
9 Section 5 amended (Calculation of family credit abatement)
Replace section 5(2) to (4) with:
(2)
In section MD 13(3)(a),—
(a)
in subparagraph (i), replace “$36,350, 22.5 cents”
with “$35,900, 23.75 cents”
:
(b)
in subparagraph (ii), replace “$36,350, 22.5 cents”
with “$35,900, 23.75 cents”
.
(3)
In section MD 13(3)(a),—
(a)
in subparagraph (i), replace “$35,900, 23.75 cents”
with “$35,450, 25 cents”
:
(b)
in subparagraph (ii), replace “$35,900, 23.75 cents”
with “$35,450, 25 cents”
.
(4)
In section MD 13(3)(a),—
(a)
in subparagraph (i), replace “$35,450, 25 cents”
with “$35,000, 25 cents”
:
(b)
in subparagraph (ii), replace “$35,450, 25 cents”
with “$35,000, 25 cents”
.
10 New section 14B inserted (Schedule 31 amended)
After section 14, insert:
14B Schedule 31 amended
(1)
In Schedule 31, replace the first and second rows after the heading row with:
| Amount does not exceed $35,900 | $35,900 |
| Amount exceeds $35,900 but does not exceed $36,500 | $36,500 |
| Amount exceeds $36,500 but does not exceed $38,000 | $38,000 |
(2)
In Schedule 31, replace the first and second rows after the heading row with:
| Amount does not exceed $35,450 | $35,450 |
| Amount exceeds $35,450 but does not exceed $36,500 | $36,500 |
(3)
In Schedule 31, replace the first and second rows after the heading row with:
| Amount does not exceed $35,000 | $35,000 |
| Amount exceeds $35,000 but does not exceed $36,500 | $36,500 |
Legislative history
1 December 2015 |
Divided from Support for Children in Hardship Bill (Bill 23–2) as Bill 23–3C |
|
3 December 2015 |
Third reading |
|
9 December 2015 |
Royal assent |
This Act is administered by the Inland Revenue Department.
Versions
Taxation (Support for Children in Hardship) Act 2015
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