Income Tax (Minimum Family Tax Credit) Order 2016

  • revoked
  • Income Tax (Minimum Family Tax Credit) Order 2016: revoked, on 1 April 2019, by clause 4 of the Income Tax (Minimum Family Tax Credit) Order 2018 (LI 2018/239).

Reprint as at 1 April 2019

Coat of Arms of New Zealand

Income Tax (Minimum Family Tax Credit) Order 2016

(LI 2016/282)

Income Tax (Minimum Family Tax Credit) Order 2016: revoked, on 1 April 2019, by clause 4 of the Income Tax (Minimum Family Tax Credit) Order 2018 (LI 2018/239).

Patsy Reddy, Governor-General

Order in Council

At Wellington this 21st day of November 2016

Present:
Her Excellency the Governor-General in Council

Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This order is administered by the Inland Revenue Department.

This order is made under section MF 7(1)(d) of the Income Tax Act 2007 on the advice and with the consent of the Executive Council.

Order

1 Title

This order is the Income Tax (Minimum Family Tax Credit) Order 2016.

2 Commencement

This order comes into force on 1 April 2017.

3 Increase of prescribed amount in formula for minimum family tax credit

(1)

The amount appearing as an item in the formula for the minimum family tax credit in section ME 1(3)(a) of the Income Tax Act 2007 is increased to $23,816.

(2)

Subclause (1) applies in respect of the 2017/18 tax year and later tax years.

4 Amendment to Income Tax (Minimum Family Tax Credit) Order 2015

(1)

This clause amends the Income Tax (Minimum Family Tax Credit) Order 2015.

(2)

In clause 3(2), delete “and later tax years”.

5 Income Tax (Minimum Family Tax Credit) Order 2014 revoked

The Income Tax (Minimum Family Tax Credit) Order 2014 (LI 2014/350) is revoked.

Michael Webster,
Clerk of the Executive Council.

Explanatory note

This note is not part of the order, but is intended to indicate its general effect.

This order, which comes into force on 1 April 2017, increases the prescribed amount specified in section ME 1(3)(a) of the Income Tax Act 2007 from $23,764 to $23,816. The prescribed amount is used when calculating the amount that a person may be allowed as a tax credit (referred to in section ME 1 as a minimum family tax credit).

This order also revokes the Income Tax (Minimum Family Tax Credit) Order 2014.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 24 November 2016.

Reprints notes
1 General

This is a reprint of the Income Tax (Minimum Family Tax Credit) Order 2016 that incorporates all the amendments to that order as at the date of the last amendment to it.

2 Legal status

Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment. Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, has the status of an official version under section 17 of that Act. A printed version of the reprint produced directly from this official electronic version also has official status.

3 Editorial and format changes

Editorial and format changes to reprints are made using the powers under sections 24 to 26 of the Legislation Act 2012. See also http://www.pco.parliament.govt.nz/editorial-conventions/.

4 Amendments incorporated in this reprint

Income Tax (Minimum Family Tax Credit) Order 2018 (LI 2018/239): clause 4