CPI Adjustment - CPI for Determination DET-05/03: Standard-cost household service for boarding service providers

Statement for IR website and Tax Information Bulletin (June 2013)

In accordance with the provisions of Determination DET 05/03, as published in Tax Information Bulletin Vol 17, No 10 (December 2005), Inland Revenue advises that the weekly standard-cost component for the 2013 income year, is retrospectively adjusted as follows:

1. The weekly standard-cost for one to two boarders will increase from $247 each to $250 each.
2. The weekly standard-cost for third and subsequent number of boarders will increase from $202 each to $204 each.

The above amounts have been adjusted in accordance with the annual movement of the Consumers Price Index for the twelve months to March 2013, which showed an increase of 0.9%. For boarding service providers who have a standard 31 March balance date, the new amounts apply for the period from 1 April 2012 to 31 March 2013.