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Budget 2024: The Government has announced FamilyBoost, a proposed new childcare payment to help eligible families with the rising costs of Early Childhood Education (ECE). Find out more: Beehive.govt.nz

The following table outlines where to find more information on Budget significant initiatives from the last three Budgets.

Name of initiative Budget year first funded Location of information
$25 per week permanent increase to welfare benefits from 1 April 2020 2021
Expansion of immediate expensing for low value assets 2021
  • Information on depreciation is not captured at this level of detail due to compliance cost impacts on customers. The threshold change was temporary.
Increasing the threshold for provisional tax 2021
  • Information on the number of provisional taxpayers and total amount of provisional tax paid annually can be found at 
    2023 responses to OIA requests
In-Work Tax Credit removing the hours test 2021
Reinstatement of depreciation deductions for commercial and industrial buildings 2021
  • Information on depreciation is not captured at this level of detail due to compliance cost impacts on customers.
COVID-19 payments (includes COVID-19 Resurgence Support Payments and COVID-19 Support Payments) 2022 and 2023
Ensuring the tax system is operating fairly 2022
Main Benefit Rate Increase and Complementary Changes for New Zealanders Receiving a Main Benefit 2022
Main Benefit Rate Increase and Complementary Changes to Student Support (1 April 2022)
2022
  • This initiative impacts on the Minimum Family Tax Credit PLA and Initial Fair Value Write-Down Relating to Student Loans appropriations, which are included in the Statement of Non-Departmental Budgeted and Actual Expenditure Incurred Against Appropriations here.
  • Information on the broader Student Loan Scheme can be found in the Student Loan Scheme Annual Report:
    Student Loan Scheme Annual Reports
Providing Transitional Support to R&D Performing Businesses 2022
  • Performance information will be reported in the 2024 Annual Report. Within the Research, Science and Innovation: R&D Tax Incentive appropriation, a report is required as soon as is practical after the end of the 2023-24 tax year and every 5 years after that.
Retaining capability to support the Government's response to COVID-19
2022 
  • Performance information relating to this initiative is integrated within existing Te Tari Taake, Inland Revenue performance measures. There were no new or amended performance measures for this initiative.
Small Business Cashflow (Loan) Scheme 2022
  • Financial information on these payments is reported in the Statement of Non-Departmental Budgeted and Actual Expenditure Incurred Against Appropriations table: Small Business Cashflow Scheme COVID-19 appropriation (capital expenditure), Impairment of Debt Relating to the SBCS appropriation (other expenses) and Initial Fair Value Write-Down Relating to the Small Business Cashflow Scheme COVID-19 appropriation (other expenses) (from the 2021 Annual Report onwards).
  • Additional financial and impairment information on these appropriations is included in the notes to the Financial Schedules Non-Departmental in the Annual Report (2022 Annual Report, note 2 and note 6).
Cost of Living Payments 2023
Passing on Child Support payments to sole parent beneficiaries 2023
Research and Development Tax Incentive administration costs
2023
  • This initiative provides ongoing funding for Te Tare Taake Inland Revenue’s role in this tax credit.
  • The performance of this scheme will form part of the evaluation specified in section LY 10 of the Taxation (Research and Development Tax Credit) Act 2019
Responding to COVID‑19 demand and maintaining capability and integrity
2023
  • Performance information relating to this initiative is integrated within existing Te Tari Taake Inland Revenue performance measures. There were no new or amended performance measures for this initiative.
Substantive closure of Te Tari Taake Inland Revenue's transformation programme
2023

Note: Significant initiatives included relate to new policy initiatives included in Vote Revenue Estimates of Appropriations for 2020-21, 2021-22 and 2022-23. New policy initiatives that are technical in nature, or where funding is not considered material, have not been included.

Last updated: 18 Dec 2023
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