Personal Income Tax threshold changes on 31 July

26 July 2024.

From 31 July 2024 the Personal Income Tax thresholds will be adjusted. This will change some payment rates and income thresholds.

What's changing

From 31 July:

  • NZ Super and Veteran's Pension - after-tax rate may increase by up to $4.30 a fortnight if you are on the 'M' tax code
  • Temporary Additional Support – payments may reduce if your net income (for example wages) increases
  • Accommodation Supplement - entry thresholds will increase slightly if you're getting NZ Super or Veteran's Pension
  • Income Related Rent - income thresholds will increase slightly
  • Public housing - income limit for the criteria will increase slightly

Details of these changes are further down the page.

Main benefits

Main benefit payments will stay the same as these rates are set after-tax, however the gross amount may reduce.

Main benefits include:

  • Jobseeker Support
  • Sole Parent Support
  • Supported Living Payment
  • Youth Payment
  • Young Parent Payment and
  • Emergency Benefit.

See the 'Benefit rates at 31 July 2024' page for a full list of benefit rates.

Benefit rates at 31 July 2024

Students

Some Student Allowance after-tax rates will increase by up to $2.16 a week. There will also be an increase to the parental income limits. 

Personal Income Tax threshold changes for 31 July - StudyLink

Details of what's changing

Select the heading for more details about each change.

The NZ Super and Veteran's Pension after-tax rate may increase by up to $4.30 a fortnight if you are on 'M' tax code.

There are no changes to your payments if you are on any other tax code.

This change will happen automatically – you don't need to do anything. Your first payment with the new amount will be paid on 13 August.

Standard pension rates

Pension type

Net fortnightly rate (after tax at 'M') before 31 July 2024

Net fortnightly rate (after tax at 'M') from 31 July 2024

Net fortnightly rate (after tax at 'S') – no change

Gross fortnightly rate - no change

Single, living alone

$1,038.94

$1,043.24

$1,001,24

$1,213.34

Single, sharing

$959.02

$963.32

$921.32

$1,116.62

Only one of you qualifies

$799.18

$803.48

$761.48

$922.82

Both you and your partner qualify (combined)

$1,598.36

$1,606.96

$1,522.96

$1,845.64

Both you and your partner qualify (each)

$799.18

$803.48

$761.48

$922.82

Couples where only one partner qualifies and has included a non-qualified partner in their pension

Pension type

Net fortnightly rate (after tax at 'M') before 31 July 2024

Net fortnightly rate (after tax at 'M') from 31 July 2024

Net fortnightly rate (after tax at 'S') – no change

Gross fortnightly rate - no change

Only one of you qualifies and you have included your partner in your payments before 9 November 2020 – combined amount

$1,519.28

$1,527.88

$1,443.88

$1,749.76

Only one of you qualifies and you have included your partner in your payments before 9 November 2020 – each

$759.64

$763.94

$721.94

$874.88

Only one of you qualifies and you have included your partner in your payments before 1 October 1991 – combined amount

$1,598.36

$1,606.96

$1,522.96

$1,845.64

Only one of you qualifies and you have included your partner in your payments before 1 October 1991 – each

$799.18

$803.48

$761.48

$922.82

The hospital rate will not change.

Your Temporary Additional Support payments may reduce if your net income increases. This includes NZ Super, Veteran’s Pension, Student Allowance, or other income like wages.

Temporary Additional Support helps with the gap between your income and your essential living costs. So when your income increases, the extra amount needed to meet your essential costs will be less. This means your Temporary Additional Support will go down.

Some of the entry thresholds will increase slightly if you're getting NZ Super or Veteran's Pension.

Entry thresholds are the amount of money you are expected to be paying for your accommodation before you can get an Accommodation Supplement.

Your entry threshold depends on your living situation, and whether you have dependent children.

Your living situation

Without children

 With children

Rent or board

Mortgage

Rent or board

 Mortgage

Single and living alone

$130

$156

$167

$200

Single and sharing accommodation

$120

$144

$157

$188

Couple, both getting NZ Super or Veteran's Pension

$201

$241

$237

$284

Couple, but only one of you qualifies for NZ Super or Veteran's Pension, and the other is included in the pension as a non-qualified partner before 9 November 2020

$191

$229

$227

$273

Couple, but only one of you qualifies for NZ Super or Veteran's Pension, and the other was included in the pension as a non-qualified partner before 1 October 1991

$201

$241

$237

$284

You get NZ Super or Veteran's Pension, and your partner gets Supported Living Payment

$186

$223

$230

$276

You get NZ Super or Veteran's Pension, and your partner gets either Jobseeker Support or does not get a benefit

$176

$211

$216

$259

The income thresholds for Income Related Rent are increasing slightly. Income Related Rent is a rent subsidy for public housing.

Type of household you're living in

Before 31 July 2024

From 31 July 2024

Sole tenant household (you're single and have no dependent children),

or

You're single with no dependent children, and you live with others but you're the only one on the tenancy agreement.

$519.47

$521.62

All other household types

$799.18

$803.48

If you're living in public housing, we'll check in with you about the new income thresholds at your next Income Related Rent review.

The income limits to meet the criteria for public housing are increasing slightly.

Income limits

Category

Before 31 July 2024

From 31 July 2024

Single client with no partner and no dependent children

$779.21

$782.43

Any other client

$1,198.77

$1,205.22

If you're applying for public housing or waiting for a house, you need to tell us if you have any changes to our income. You can do this by calling us on 0800 673 468.