We’ve put together an abundance of helpful resources, information, and guides that will help you in your business.
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.
Need more answers?
Get in touch
Talk to the team today about your accounting and tax needs. We look forward to hearing from you.