From 1 April 2014, some payment rates increase based on the updated Consumer Price Index of 1.38%.
The Annual General Adjustments include:
- rates and thresholds for main benefits, Student Allowances, Student Loan Living Costs and the Foster Care Allowance
- rates and thresholds for some supplementary assistance
- thresholds for the Community Services Card
- New Zealand Superannuation and Veteran’s Pension
NZ Superannuitants will receive a 2.66% increase so that the married rate continues to equal 66% of the average net wage.
Minimum Wage
The minimum adult wage rate for a worker 16 years or older increases to $14.25 per hour.
The starting-out minimum wage and the minimum training wage rates increase to $11.40 per hour
Student Allowances
To obtain the maximum allowance you must not earn more than $210.88 a week before tax, as well as meeting all the other eligibility criteria.
If you are aged 18-23 and have no children, the combined taxable income of both your parents in the last financial year has to be less than:
- $84,016.80 before tax (if you are living at home while studying)
- $91,264.01 before tax (if you are living away from home to study)
If you have a partner and children, your own and your partner’s combined taxable income needs to be less than $878.49 a week before tax, otherwise the allowance will reduce for every cent earned above this.
Working for Families
The minimum family tax credit threshold will increase from an after-tax income of $22,724 to $22,776.
Student Loan Living Cost
The maximum weekly amount available is $175.96.