Public feedback on the Exposure Draft is open until 9 December 2025.
Regfollower Desk
New Zealand Inland Revenue on 24 October 2025 released an Exposure Draft (PUB00513) for consultation on eligibility rules for Working for Families tax credits, along with a Fact Sheet.
The statement details how to calculate a person’s family scheme income, which begins with net income and requires numerous adjustments related to trusts, companies, passive income of dependent children, and various other payments to ensure an accurate reflection of a family’s financial means.
It thoroughly outlines complex rules for attributing income from close companies and trusts to applicants, addresses income from overseas pensions and superannuation, and specifies a crucial threshold for including miscellaneous payments received by the family, all while noting differences in income calculation for student loan repayment purposes.
This interpretation statement gives an overview of eligibility for Working for Families tax credits and discusses the adjustments required to a person’s net income to determine family scheme income.
Key adjustments that may be relevant are income from associated trusts and companies, passive income over USD 500 of dependent children, payments from trusts other than beneficiary income and other payments supporting the family if they total more than USD 5,000.
Public feedback on the Exposure Draft is open until 9 December 2025.
