Best Start Payment NZ: When does the best start payment start? Payment Amount and Eligibility

Check the details about the Best Start Payment NZ: When does the best start payment start? Payment Amount and Eligibility here. Nothing is better to secure the finances when you are planning a family. Apply for Best Start Payment NZ to receive the weekly payment to manage the cost of living. More details can be found in this article, do not stop scrolling!

Best Start Payment NZ

The Government of New Zealand has been providing financial support to families for their child care. The payment is issued for newborn babies. The payment will be issued until the child turns 3 years old. The payment is not dependent on the income or the mean test. Every citizen applying for the allowance will be issued with the Best Start Payment. If the family is receiving the paid parental leave they might not be eligible for the benefit.

The payment is disbursed with the end of the parental leave. The families will receive a fixed amount for the first year of the kid despite the income and the assets of the household. The candidates need to apply for the best benefit plan each year. This allowance does not proceed automatically. There are two types of payments in the plan. the best start payment and the best start tax credit.

When does the best start payment start?

The program for the Best Start was initiated to help the parents and the families with foster care. The program was implemented in 2018. The children born before the launch date were not eligible to receive the allowance. The payment is not missed by every individual’s family in the country. There are specific regulations for the benefit. The parental leave of 26 weeks will be issued for the parent under the program, and the income for the support will be issued during the leave.

The best payment not will be issued to the candidates after the end of their parental leave. The benefit is generally issued to working parents. If the candidates are receiving other benefits under the work and employment department such as the Soel Parent Support, they need not apply for the benefit. Their accounts will automatically be eligible for the Allowance.

Best Start Payment NZ Amount

There are two types of payment in the Allowance as discussed above. The best payment is issued for the working parents during the first year of birth while the best tax credit helps to reduce the tax return and issues the support of an additional amount for the last two years. the payment for the best start program is the weekly frequency. The amount issued is $69 per week. The families will receive a fixed amount of $712 per year. Families with multiple births such as twins or triplets will receive the extra allowance per child.

The income test and the asset test are followed in the 2nd and 3rd years. The families qualifying for the test will be receiving the benefit from the Best Payment Credit of $65 per week. As we know the program is initiated for three weeks, and the amount will be gradually decreased with time.

Best Start Payment Eligibility

There is certain eligibility that the family should follow in order to receive the benefit. The basic requirement for the allowance is discussed in this section:

• The candidates registering for the benefit should be the primary caregiver of the child.
• The child should be born after Jan 2018.
• The parents applying for the benefit should be permanent residents of the country. They should have residential proof such as electricity, water, or fuel bills.
• If they own any property, they should have the proper tax paid till the previous year.
• The parents working should have proof of employment and should be registered with the Inland Revenue Department.
• The mean test and the income test are required for the 2nd and the 3rd years. The families had to qualify for both tests to receive the benefit.
• The amount of the tax credit reduces as the income net increases gradually.
• The threshold limit for the income of the family should be less than $79,000 to receive the full best payment per week.
• Families with an income between $79000 and $96,000 will be eligible to receive the partial benefit amount.

The children placed in foster care centers are also eligible for the allowance. Special criteria are missed for the children born overseas, or the families just arrived in the country.

The candidates should register themselves with Smart Start to receive the allowance. The software of Smart Start offers easy and convenient technology. The IRD number is automatically issued to the babies according to their date of birth.

ITG Home