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New Zealand law explained for everyone

Income Tax Act 2007

Tax credits paid in cash - General provisions

MA 1: What this Part does

You could also call this:

“This part explains the tax credits available to individuals”

This part of the law tells you about the tax credits you can get if you’re a person (not a company). Here’s what it covers:

You can get tax credits for families for each tax year. These are called working for families tax credits. You can find more information about these in the sections called subparts MA to MG and MZ.

There’s also something called FamilyBoost tax credits. You can learn more about these in the section called subpart MH.

If you’re saving for retirement, you might be able to get tax credits for a year starting on 1 July and ending on 30 June. These are for KiwiSaver schemes and similar retirement savings plans. You can find out more in the section called subpart MK.

If you’re doing research and development work, you might be able to get tax credits for R&D tax losses. This applies to income years starting on or after 1 April 2015. You can read more about this in the section called subpart MX.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1518407.

Topics:
Money and consumer rights > Taxes
Money and consumer rights > Savings and retirement
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LZ 14: Research and development tax credits’ refundability: option for 2019–20 income year, or

“Option to refund research and development tax credits for the 2019-20 tax year”

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MA 2: Relationship with core provisions, or

“How tax credits from this part affect your income tax”

Part M Tax credits paid in cash
General provisions

MA 1What this Part does

  1. This Part identifies the tax credits to which a natural person is entitled—

  2. under the family scheme for a tax year, see subparts MA to MG and MZ (which relate to working for families tax credits):
    1. under the FamilyBoost tax credits scheme, see subpart MH (FamilyBoost tax credits):
      1. under the superannuation savings scheme for a year beginning on 1 July and ending on 30 June, see subpart MK (Tax credits for KiwiSaver schemes and complying superannuation funds):
        1. for R&D tax losses for an income year beginning on or after 1 April 2015, see subpart MX (Tax credits for R&D tax losses).

            Notes
            • Section MA 1: substituted, on , by section 453 of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).
            • Section MA 1: amended, on , by section 258 of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).
            • Section MA 1(a): amended, on , by section 6 of the Families Package (Income Tax and Benefits) Act 2017 (2017 No 51).
            • Section MA 1(ab): inserted, on , by section 12 of the Taxation (Budget Measures) Act 2024 (2024 No 19).
            • Section MA 1(bb): inserted (with effect on 1 April 2015 and applying for income years beginning on or after that date), on , by section 205(1) of the Taxation (Annual Rates for 2015–16, Research and Development, and Remedial Matters) Act 2016 (2016 No 1).
            • Section MA 1(c): repealed, on , by section 6 of the Taxation (Canterbury Earthquake Measures) Act 2011 (2011 No 24).