Higher tax credit for families

The Government is to raise the minimum level of family tax credit for low income working families from April 1, 2011.

Families with an after-tax annual income of $21,008 are currently eligible for this credit. The minimum amount will move up to $22,204, accounting for anticipated inflation rates and the recent rise in the GST.

Revenue Minister Peter Dunne claimed that the minimum family tax credit guaranteed working families with low income, helping them to move away from benefit and get into beneficial employment.

“It ensures that these working families are better off as a result of being in the workforce,” he said.

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