Income Tax (FamilyBoost) Amendment Act 2025
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Income Tax (FamilyBoost) Amendment Act 2025
Public Act |
2025 No 50 |
|
Date of assent |
23 September 2025 |
|
Commencement |
see section 2 |
Contents
The Parliament of New Zealand enacts as follows:
1 Title
This Act is the Income Tax (FamilyBoost) Amendment Act 2025.
2 Commencement
This Act comes into force on 1 July 2025.
3 Principal Act
This Act amends the Income Tax Act 2007.
4 Section MH 3 amended (FamilyBoost tax credit)
(1)
In section MH 3(2), replace “25%”
with “40%”
, and replace “$975”
with “$1,560”
.
(2)
In section MH 3(3)(b), replace “$975”
with “$1,560”
.
(3)
Subsections (1) and (2) apply to tax credit quarters commencing on or after 1 July 2025.
5 Section MH 5 amended (FamilyBoost tax credit abatement)
(1)
In section MH 5(2), replace “9.75”
with “7”
.
(2)
In section MH 5(3), replace “$45,000”
with “$57,286”
, and replace “$975”
with “$1,560”
.
(3)
Subsections (1) and (2) apply to tax credit quarters commencing on or after 1 July 2025.
Legislative history
16 September 2025 |
Introduction (Bill 203–1), first reading, second reading, committee of the whole House, third reading |
|
23 September 2025 |
Royal assent |
This Act is administered by the Inland Revenue Department.
Versions
Income Tax (FamilyBoost) Amendment Act 2025
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