Independent earner tax credit (IETC)

From 1 April 2009

Find out if you're eligible for the independent earner tax credit (IETC)

You're eligible for the IETC if you meet all of the following conditions:

• you're an individual who is a New Zealand tax resident, and
• your annual income is between $24,000 and $48,000, and
• you or your partner :
  • aren't entitled to working for families tax credits, and
  • don't receive an overseas equivalent of working for families tax credits, and
• you aren't receiving:
  • an income-tested benefit
  • NZ Super
  • Veteran's Pension, or
  • an overseas equivalent of the above.

Work out how much your tax credit would be

Your entitlement to IETC is determined monthly. This means that if you don't meet the criteria for any part of a month, then you won't qualify to receive the IETC for that entire month.

From 1 April 2009 if your annual income is between...	then...
$24,000 and $44,000 inclusive	you'll receive a tax credit of $520 ($10 a week).
$44,001 and $48,000 inclusive	your annual entitlement to the IETC decreases by 13 cents for every additional dollar you earn over $44,000.

Next steps