Social Security (Cash Assets and Income Exemptions—Cost of Living Payment) Amendment Regulations 2022

  • latest version but not yet in force

2022/185

Coat of Arms of New Zealand

Social Security (Cash Assets and Income Exemptions—Cost of Living Payment) Amendment Regulations 2022

Cindy Kiro, Governor-General

Order in Council

At Wellington this 13th day of June 2022

Present:
Her Excellency the Governor-General in Council

These regulations are made under sections 422(1), 423(1)(b), and 428(1) and (2)(d) and (f) of the Social Security Act 2018 on the advice and with the consent of the Executive Council.

Regulations

1 Title

These regulations are the Social Security (Cash Assets and Income Exemptions—Cost of Living Payment) Amendment Regulations 2022.

2 Commencement

These regulations come into force on 1 August 2022.

3 Principal regulations

These regulations amend the Social Security Regulations 2018.

4 Schedule 8 amended

(1)

In Schedule 8, clause 1, after item 21, insert:

22A cost of living payment to which clause 58 appliesNot cash assets of the person to whom the payment was madeOnly for the first 12 months after the payment is made

(2)

In Schedule 8, clause 2, after item 22, insert:

23A cost of living payment to which clause 58 appliesNot cash assets of the person to whom the payment was madeOnly for the first 12 months after the payment is made

(3)

In Schedule 8, clause 3, after item 10, insert:

11A cost of living payment to which clause 58 appliesNot chargeable income for the person to whom the payment was made Only for the first 12 months after the payment is made

(4)

In Schedule 8, clause 4, after item 27, insert:

28A cost of living payment to which clause 58 appliesNot income for the person to whom the payment was made Only for the first 12 months after the payment is made

(5)

In Schedule 8, after Part 32, insert the Part 33 set out in the Schedule of these regulations.

Schedule New Part 33 inserted in Schedule 8

r 4(5)

Part 33 Cost of living payments

57 Interpretation

In this Part, cost of living payment means a payment under the cost of living payments scheme (as defined in section 3(1) of the Tax Administration Act 1994).

58 Payments

This clause applies to a cost of living payment made to a person.

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 1 August 2022, amend Schedule 8 of the Social Security Regulations 2018. The amendments relate to a cost of living payment—

  • under the cost of living payments scheme introduced as part of Budget 2022; and

  • made to certain people by the Inland Revenue Department.

The amendments ensure that, for the first 12 months after the payment is made, the payment is not treated as cash assets or chargeable income for the purposes of determining the person’s accommodation supplement or temporary additional support entitlements under the Social Security Act 2018. They also ensure that, for the first 12 months after the payment is made, the payment is not the person’s income for the purposes of that Act.

Issued under the authority of the Legislation Act 2019.

Date of notification in Gazette: 16 June 2022.

These regulations are administered by the Ministry of Social Development.