Working for Families
Working for Families Tax Credit changes effective from 1 April 2012
- The income abatement threshold has reduced from $36,827 to $36,350.
- The rate of abatement has increased from 20% to 21.25%.
- The Family Tax Credit (FTC) amounts for children aged 16 and over won’t be increased for inflation until the FTC amounts for younger children equal the amounts for children aged 16 and over.
You can estimate your Working for Families Tax Credit entitlements by using our:
- online calculator to estimate your Working for Families Tax Credits
- Working for Families Tax Credits worksheet 2012-2013 (IR271)
If you already receive Working for Families Tax Credits we'll send you a new notice of enitlement each year. Find out more about your notice of entitlement.
Find out more about the Budget changes
Read more about the proposed changes on our Policy Advice Division's website
Read more about the entire Budget on The Treasury's website
Date published: 04 May 2012
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