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Here’s how much benefits, Working for Families increase in 2024

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RNZ

31 March 2024, 11:01 PM

Here’s how much benefits, Working for Families increase in 2024Finance Minister Nicola Willis delivers the Budget Policy Statement on 27 March. Photo: RNZ / Samuel Rillstone

From 1 April, a number of payments that New Zealand households receive will increase.


Here is what that looks like.





Family tax credit


This is a core part of the Working for Families scheme.


The amount you qualify for depends on your household income.


From 1 April, this rate will increase from a maximum $136 to a maximum $144 a week for the oldest child in a family, and from $111 to $117 per week for subsequent children.


Best Start tax credit


The Best Start credit is paid to all families until their baby turns one, provided they are not receiving paid parental leave.


Those whose household income is less than $97,726 can receive a payment until their child turns three.


From 1 April, the rate for the first year will lift from $69 a week to $73.


Jobseeker


Changes will take effect for all benefits from April, based on either the increase in the consumer price index or net average wage.


Social Development and Employment Minister Louise Upston said a couple on Jobseeker Support with children will get an extra $56.48 a fortnight while single parents would get $44.02 more.


A single person on Jobseeker aged over 25 will now get $353.46 a week after tax.


A single parent on Jobseeker will receive $494.80.


A couple with children will qualify for $635.10 a week.


On the supported living payment, a couple without children will receive $684.48.


There is a full list of the new rates on the Work and Income website.


Superannuation


NZ Super will also increase.


A couple on NZ Super or the Veteran's Pension will get $71.08 more a fortnight, and a single person living alone will get $46.20 more a fortnight.


That means a couple in which both people qualify will receive just under $800 a week after tax.


Student allowance


Eligible students who are living away from home and aged under 24 will get an extra $27.94 in student allowance - to a maximum $314.15 a week after tax.


- This story was first published by Stuff.





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