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Budget 2024 | The Government has confirmed changes and provided more information on FamilyBoost. Find out more: FamilyBoost

Budget 2024 | The Government has confirmed changes to personal income tax, the independent earner tax credit, in-work tax credit, and the minimum family tax credit. Find out more: Personal income tax threshold changes

Important Update

The Government’s Budget for 2024 includes the following proposed measures:

  • increasing the personal income tax thresholds for the bottom three income tax rates
  • extending the Independent Earner Tax Credit
  • increasing the In-Work Tax Credit and the Minimum Family Tax Credit
  • introducing FamilyBoost which supports households with the cost of early childhood education, and
  • temporarily increasing the interest rate charged on overseas-based borrowers’ student loans and for late repayments.

For further information about these measures, see the information available on the Budget website.

www.budget.govt.nz

Legislation will be introduced into the House to implement these measures.

Last updated: 30 May 2024
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