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Tax Facts – Working for Families Tax Credits

Working for Families tax credits are payments for families with dependent children aged 18 or under.

There are four different Working for Families Tax Credits:

• Family tax credit – a payment for each child in the family
• In-work tax credit – a payment to eligible families who are not receiving an income-tested benefit or student allowance and have some income from paid work each week
• Minimum family tax credit – a payment to make sure families are getting a basic income where the parents are working the required number of hours for salary and wages
• Best Start – a special payment for up to 3 years for children born on or after 1 July 2018. This replaced the Parental tax credit from 1 July 2018.

Inland Revenue administer the Working for Families tax credits, however taxpayers who receive an income-tested benefit will receive payments from Work and Income.

For more information just give us a call or visit the IRD website.