Prime Minister Christopher Luxon said he believed the Government had “designed a system incredibly well to put more emphasis on low- and middle-income New Zealanders”. Luxon cited the fact that the benefits of the income tax cuts were capped at $78,100, after which earning more money will not increase the size of a person’s income tax cut. Low income Kiwis include seniors, who get a measly few dollars a week from the tax changes,” Edmonds said. The second tax credit, the IWTC is a key Working for Families tax credit. The problem is that the Government has not touched the family tax credit (FTC), a Working for Families tax credit that goes to households on a benefit as well as those who work.

Source: New Zealand Herald June 11, 2024 00:35 UTC