Working for Families Tax Credits
Working for Families is a package designed to help make it easier for you to work and raise a family.
Working for Families Tax Credits are made up of four types of payments - family tax credit, in-work tax credit, minimum family tax credit and parental tax credit. You may qualify for one or more, depending on your personal situation.
Inland Revenue explains these payments on their website:
How much you can earn and receive Working for Families Tax Credits
The best way to find out how much you might get is to use the Inland Revenue calculator.
As a quick guide, if your family income before tax is less than the amounts shown in the table, you may qualify for a payment. You’ll also need to meet other conditions as well. These conditions are explained on the Inland Revenue website.
The amounts are based on your eldest child being aged 15 years or under and all other children being aged 12 years or under. If you have older children, you may be able to earn more and still be eligible.
Working for Families Tax Credits Income Limits 1 April 2013 – 31 March 2014
|Annual Income (before tax)|
|Family tax credit||In-Work tax credit||Parental tax credit
(for parents of a newborn baby)
If you family income is below $22,724 a year after tax (or $26,356.36 before tax), you may also be eligible for the minimum family tax credit.