Articles tagged with Inland Revenue
Government Investment Boost Drives Early, Larger Investments and Economic Growth
1 month ago | 312 viewsThe Government’s Investment Boost is effectively encouraging firms to increase, accelerate, and scale up their investments, thereby enhancing productivity and economic growth. Survey data shows that a significant portion of companies have raised their investment spending and shifted toward productivity-enhancing assets due to the policy, with Inland Revenue modeling indicating a reduction in the effective marginal tax rate on new capital investment. These positive impacts align with projections of GDP, wage, and capital stock growth over the next 20 years, demonstrating the importance of stable, supportive tax policy for long-term economic development.
Tags: Nicola Willis Investment Boost Inland Revenue New Zealand Economic Growth United Machinists Foot Science International Vynco Government Policy ProductivityNew FamilyBoost Scheme Expands Eligibility and Refunds for Kiwi Families
5 months ago | 513 viewsThe Government has expanded the FamilyBoost scheme to provide more help with early childhood education (ECE) costs for Kiwi families, allowing households with incomes up to just under $230,000 to claim back 40% of their ECE costs, up to $300 a week. Finance Minister Nicola Willis encourages eligible families to check their eligibility on the Inland Revenue website and apply for the increased refunds. The Income Tax (FamilyBoost) Amendment Act increased the proportion of ECE fees families can claim, with an increase in the maximum amount families can claim per week and an expanded household income limit for eligibility.
Tags: Nicola Willis FamilyBoost ECE early childhood education Government Finance Minister households eligibility refunds Inland RevenueEnhanced FamilyBoost Program to Benefit Thousands of Households with Early Childhood Education Costs
6 months ago | 598 viewsStarting next month, tens of thousands of households will receive increased support for early childhood education through the expanded FamilyBoost scheme, as announced by Finance Minister Nicola Willis. The legislation for the expanded ECE support scheme has passed through Parliament, with Labour reversing its position to support the enhanced FamilyBoost. Changes include increasing the proportion of ECE fees families can claim from 25 to 40 percent, raising the household income limit for FamilyBoost, and making about 21,000 more households eligible for assistance.
Tags: Nicola Willis FamilyBoost ECE households Labour scheme entitlement Income Tax Act Inland RevenueFamilyBoost Program Enhancements Bring Financial Relief to Thousands of Households
8 months ago | 1317 viewsTens of thousands of households will be better off thanks to changes being made to FamilyBoost to help families with the cost of living, Finance Minister Nicola Willis says. “From the start of this month, families will get larger FamilyBoost rebates on the early childhood education fees they pay, with rebates increasing from 25 per cent to 40 per cent of weekly fees, and those with household incomes of up to $229,000 now eligible to apply. “This means for example that a family with early childhood fees of $100 a week could have their weekly FamilyBoost payment increased from $25 a week to $40 a week, meaning their annual payments would increase from $1,300 to $2,080 over the course of a year, making them hundreds of dollars better off.
Tags: Finance Minister Nicola Willis FamilyBoost households families cost of living early childhood education rebates scheme Inland Revenue