Income Tax (Minimum Family Tax Credit) Order 2013
2013 legislation increases the after-tax income level guaranteed by the minimum family tax credit to $22,776 a year.
The Income Tax (Minimum Family Tax Credit) Order 2013, made on 21 October 2013, increases the after-tax income level guaranteed by the minimum family tax credit. From 1 April 2014 the after-tax income level will rise from $22,724 to $22,776 a year.
The order increases the prescribed amount in the definition in the formula for calculating the minimum family tax credit, in section ME 1(3)(a) of the Income Tax Act 2007.
The order also revokes the Income Tax (Minimum Family Tax Credit) Order 2011 as it is now spent. It amends the Income Tax (Minimum Family Tax Credit) Order 2012.
The increase applies for the 2014-15 and later tax years.
Income Tax (Minimum Family Tax Credit) Order 2013 (SR 2013/438)