Independent Earner Tax Credit
Tax relief to middle-income NZ residents, who do not receive core assistance from the Government
From 1 April 2009, the IETC delivers $10 per week ($520 p.a.) to individuals, who earn between $24,000 and $44,000 p.a. and who do not receive a benefit, Working for Families tax credits, or NZ Superannuation.
Abates at 13c for every dollar of income in excess of $44,000; Phases out at net income of $48,000.