Explanatory note
This note is not part of the regulations, but is intended to indicate their general effect.
Regulations 4 and 5 amend the principal regulations to increase the amounts that are allowed to be gifted under regulations 10 and 11 of the principal regulations during a gifting period without affecting an assets assessment conducted under section 34 of the Residential Care and Disability Support Services Act 2018.
The increases are being made this year because of a Cabinet decision taken in 2004 that the allowable gifting levels be reviewed annually for adjustment in line with the New Zealand Consumers Price Index (the CPI), and that adjustments occur in $500 increments. This year, an adjustment of $500 is triggered because a review of the allowable gifting levels in line with the cumulative percentage change in the CPI (All Groups) since 2018 (when the gifting levels were last increased) results in an increase of $843.
Issued under the authority of the Legislation Act 2019.
Date of notification in Gazette: 26 May 2022.
These regulations are administered by the Ministry of Social Development and the Ministry of Health.