New Zealand Increases Family Tax Credit and Best Start Tax Credit for Individuals

As part of the Tax Information Bulletin for December 2022, New Zealand Inland Revenue has announced the Income Tax (Tax Credit) Order 2022, which increases the family tax credit and the best start tax credit for individuals. The Order is explained in the explanatory notes as follows:

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Explanatory note

This note is not part of the order, but is intended to indicate its general effect.

This order comes into force on 1 April 2023. It amends the Income Tax Act 2007.

Under the Income Ta…