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New Zealand law explained for everyone

Income Tax Act 2007

Tax credits paid in cash - FamilyBoost tax credits

MH 2: Some definitions

You could also call this:

“Definitions for understanding the FamilyBoost tax credit”

In this part of the law, you’ll find some important words and what they mean. These definitions help you understand the FamilyBoost tax credit.

The ‘abatement amount’ is a sum of money worked out using a special calculation in section MH 5.

A ‘caregiver’ is someone who looks after a child every day. This person doesn’t have to be the child’s parent, but they must take care of the child regularly, not just for a short time.

The ‘FamilyBoost tax credit’ is a type of tax benefit explained in section MH 3.

A ‘licensed early childhood service’ is a place that takes care of young children. The exact meaning of this term is found in section 10 of the Education and Training Act 2020.

‘Licensed early childhood service fees’ are the costs you pay for these services. This includes extra charges you might choose to pay, but doesn’t include any money given as a donation.

‘Tax credit income’ is an amount of money worked out using the method in section MH 4.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS976039.

Topics:
Money and consumer rights > Taxes
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MH 1: FamilyBoost tax credits: purpose, or

“FamilyBoost tax credits help caregivers pay for early childhood education”

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MH 3: FamilyBoost tax credit, or

“Tax credit for people paying for early childhood services”

Part M Tax credits paid in cash
FamilyBoost tax credits

MH 2Some definitions

  1. In this subpart,—

    abatement amount means the amount calculated under section MH 5

      caregiver means a person, whether or not a parent of the child, who the Commissioner considers has responsibility for the day-to-day care of a child, other than on a temporary basis

        FamilyBoost tax credit means a tax credit under section MH 3

          licensed early childhood service has the meaning set out in section 10 of the Education and Training Act 2020

            licensed early childhood service fees includes optional charges but excludes any portion that is a donation

              tax credit income means the amount determined under section MH 4.

              Notes
              • Section MH 2: inserted, on , by section 14 of the Taxation (Budget Measures) Act 2024 (2024 No 19).