Social Security (Benefits Adjustment) and Income Tax (Minimum Family Tax Credit) Amendment Act 2024

• Jurisdiction: New Zealand
• Act Number: 3
• Record Number: LMS937086
• Type of Document: Act

Contenidos

• Social Security (Benefits Adjustment) and Income Tax (Minimum Family Tax Credit) Amendment Act 2024
• Contents
• 1 Title
• 2 Commencement
• Part 1
• 3 Principal Act
• 4 Section 452A repealed (Orders in Council: mandatory annual average weekly earnings adjustment of rates of main benefits)
• 5 Section 453 amended (Orders in Council: mandatory annual CPI adjustment of rates of certain benefits that are not main benefits)
• 6 Schedule 1 amended
• 7 Schedule 2 amended
• 8 Schedule 4 amended
• Part 2
• 9 Principal Act
• 10 Section ME 1 amended (Minimum family tax credit)

Social Security (Benefits Adjustment) and Income Tax (Minimum Family Tax Credit) Amendment Act 2024

Contents

1 Title

This Act is the Social Security (Benefits Adjustment) and Income Tax (Minimum Family Tax Credit) Amendment Act 2024.

2 Commencement

Part 1 comes into force on the day after Royal assent.

Part 2 comes into force on 1 April 2024.

Part 1

3 Principal Act

This Part amends the Social Security Act 2018.

4 Section 452A repealed (Orders in Council: mandatory annual average weekly earnings adjustment of rates of main benefits)

Repeal section 452A.

5 Section 453 amended (Orders in Council: mandatory annual CPI adjustment of rates of certain benefits that are not main benefits)

In the heading to section 453, delete that are not main benefits.

Replace section 453(2) and (3) with:

Subsection (1) applies to the following provisions:

1. Part 1 of Schedule 4 (rates of jobseeker support):

2. Part 2 of Schedule 4 (rates of sole parent support):

3. Part 3 of Schedule 4, including clause 2, but excluding clauses 3 and 4 (rates of supported living payment):

4. Part 4 of Schedule 4 (orphan’s benefit):

5. Part 5 of Schedule 4 (unsupported child’s benefit):

6. Part 6 of Schedule 4, other than any rate of incentive payment in subpart 3 of Part 6 of Schedule 4 (rates and component of youth payment and young parent payment, and criteria for incentive payments):

7. Part 10 of Schedule 4 (rates of generally abolished former widows’ benefits under section 21 of the Social Security Act 1964 as saved by clause 55 of Schedule 1 for reciprocity agreement applicants or recipients):

8. Part 11 of Schedule 4 (rates of generally abolished former DPB for solo parents under section 27B of the Social Security Act 1964 as saved by clause 55 of Schedule 1 for reciprocity agreement applicants or recipients):

9. Part 12 of Schedule 4 (rates of benefits payable to long-term hospital patients).

6 Schedule 1 amended

In Schedule 1, cross-heading above clause 55(6), replace average weekly earnings with CPI.

In Schedule 1, clause 55(6), replace 452A with 453.

7 Schedule 2 amended

In Schedule 2, repeal the definitions of average ordinary time weekly earnings, earner levies, and standard tax.

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