WFF question
Printed From: OHbaby!
Category: General Chat
Forum Name: General Chat
Forum Description: For mums, dads, parents-to-be, grandparents, friends -- you name it! And you name the topic you want to chat about!
URL: https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=19256
Printed Date: 11 October 2025 at 4:58am
Software Version: Web Wiz Forums 12.05 - http://www.webwizforums.com
Topic: WFF question
Posted By: cuppatea
Subject: WFF question
Date Posted: 18 July 2008 at 4:05pm
|
What is the difference between family tax credit and in-work tax credit?
I can't find anything on their website that explains it, or which we might be entitled to. Also I read the other thread about having to pay money back  I would prefer the money weekly if poss but am a bit scared of getting a bill of them now.
Oh and one last thing, if you have a rental property and other interests but they don't make any money do you need to include them? We always get a rebate as the rental runs at a loss, but does it still count as income? ------------- 
 
|
Replies:
Posted By: kebakat
Date Posted: 18 July 2008 at 4:45pm
|
I'm not sure about the rental thing.
I don't know the difference between the payments but I know we get both.. both are based on your income. I overestimate our income by around 5k to avoid having to pay back money. This is enough of a buffer I figure if DH gets a rise etc. It means we get less than we are meant to each week but at the end of the year I get a payout of what we should have got which is handy |
Posted By: mummy_becks
Date Posted: 18 July 2008 at 4:49pm
|
Yes the rental is classed as income as you get tax rebates for it at the end of the year. ------------- I was a puree feeder, forward facing, cot sleeping, pram pushing kind of Mum... and my kids survived! |
Posted By: pekemoemum
Date Posted: 18 July 2008 at 5:00pm
|
if you go onto the IRD website you should be able to put your info in for the working for families tax credit to see what you 'may' get? they have online calculators. ------------- Gina, Reef 15/6/03, Tyde 12/2/07 http://www.pekemoe.co.nz - Peke Moe - Unique NZ Made Baby Sleeping bags for babies who get out of swaddle/wrap |
Posted By: cuppatea
Date Posted: 18 July 2008 at 6:27pm
|
I phoned the accountant, she said that as it makes a loss it actually reduces our income meaning we are entitled to more...woohoo.
We might be able to claim some for last year, she will know when our return is done and then based on that I can start claiming weekly this year. I will add about 5-10K to DH's wages as he gets call outs/overtime and we never now how much that could possibly be. I actually found on their site what the difference is as well. Family tax credit is income from any source and in work tax credit is for single parents that work 20+ hours or couples who work 30+ (I think it was 30). Thresholds for in work are higher, I assume as an incentive for parents to work. -------------
|