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Income Tax Act 2007

Tax credits paid in cash - Adjustment of net income for family scheme

MB 12: Family scheme income from non-residents' foreign-sourced income

You could also call this:

“Overseas income from your partner counts towards family scheme income”

When you’re figuring out your family scheme income for a year, you need to include any money that your husband, wife, civil union partner, or de facto partner got from overseas sources. This rule applies even if your partner isn’t living in New Zealand. It’s important to remember this when you’re working out your tax credits.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3661997.

Topics:
Money and consumer rights > Taxes
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MB 11: Family scheme income from amounts derived by dependent children, or

“How a child's income affects family income for tax purposes”

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MB 12B: Family scheme income from trusts, not being beneficiary income, and where recipient not settlor, or

“Trust payments that count towards family scheme income”

Part M Tax credits paid in cash
Adjustment of net income for family scheme

MB 12Family scheme income from non-residents' foreign-sourced income

  1. The family scheme income of a person for an income year includes the non-residents' foreign-sourced income for the income year of the person's spouse, civil union partner, or de facto partner.

Notes
  • Section MB 12: added, on , by section 112 of the Taxation (GST and Remedial Matters) Act 2010 (2010 No 130).