Budget targets low-income

New Zealand’s government has unveiled its 2017 national budget, with a new Family Incomes Package to lift after-tax incomes, provide better rewards for hard work, and benefit low-income earners with family burdens. From April 1, 2018, the bottom two tax rate thresholds will be raised, with the lowest threshold lifting from NZ$14,000 ($9,829) to NZ$22,000, and the NZ$48,000 tax threshold increasing to NZ$52,000, according to the new package. Finance Minister Steven Joyce said in a statement that the package was “carefully designed to especially assist low and middle-income earners with young families and higher housing costs”.