FamilyBoost: A New Childcare Payment Support
Starting from 1 July 2024, NZ families may be eligible to receive FamilyBoost, a childcare payment designed to help households manage the cost of early childhood education (ECE). This initiative aims to ease the financial burden on caregivers by allowing eligible households to claim up to 25% of their weekly childcare fees, with a maximum payout of $975 every three months.
Who Can Benefit from FamilyBoost?
To qualify for FamilyBoost, you must meet the following criteria:
Caregiver of a child or children aged 5 and under: You must be responsible for the care of young children in this age group.
Household income: Your household income must be less than $180,000 annually. The amount you can claim will reduce gradually for household incomes between $140,000 and $180,000.
Licensed ECE provider: You must have childcare fees from a licensed early childhood education provider. These fees can include optional charges and services but do not cover donations.
Tax residency: You must be a tax resident of New Zealand.
How Much Can You Claim?
The FamilyBoost payment is calculated per household (not per child). The exact amount you can claim depends on your household income, with full eligibility for households earning less than $140,000 per year. As income approaches $180,000, the claimable amount decreases.
What You Need to Register:
Registration for FamilyBoost will open in mid-September 2024 via myIR. To register, you'll need:
Your partner’s full name, date of birth, and IRD number (if applicable).
The full names, dates of birth, and IRD numbers of your children.
New Zealand bank account details.
In addition, you’ll need details about your early childhood education provider, including:
The name and address of the provider.
The provider’s licence number, which can be found as their ‘institution number’ on the Education Counts website.
How to Register for FamilyBoost
Log into your myIR account.
Select "I want to..."
Choose "Register for FamilyBoost."
Complete the required details and submit your registration.
Submitting Your Claim
From 1 October 2024, you will be able to submit your FamilyBoost claim for the period of 1 July to 30 September 2024 through myIR. Ensure you save copies of invoices from your ECE provider, as you’ll need these to support your claim. If your children attend multiple ECE providers, invoices from each provider will be required.
For more detailed information about FamilyBoost check this fact sheet provided by IRD.