Residential Care and Disability Support Services (Exempt Assets—FamilyBoost) Amendment Regulations 2024
2024/164
Residential Care and Disability Support Services (Exempt Assets—FamilyBoost) Amendment Regulations 2024
Cindy Kiro, Governor-General
Order in Council
At Wellington this 12th day of August 2024
Present:
Her Excellency the Governor-General in Council
These regulations are made under section 74(1)(g) of the Residential Care and Disability Support Services Act 2018 on the advice and with the consent of the Executive Council.
Regulations
1 Title
These regulations are the Residential Care and Disability Support Services (Exempt Assets—FamilyBoost) Amendment Regulations 2024.
2 Commencement
These regulations come into force on 1 October 2024.
3 Principal regulations
These regulations amend the Residential Care and Disability Support Services Regulations 2018.
4 Schedule 3 amended
(1)
In Schedule 3, clause 1, after item 24, insert:
| 25 | A FamilyBoost payment to which clause 44 applies | Exempt assets of the person or the person’s spouse or partner | Only for the first 12 months after the payment is made |
Schedule New Part 24 inserted into Schedule 3
Part 24 FamilyBoost payments
43 Interpretation
In this Part, FamilyBoost payment means a payment made to a person under subpart MH of the Income Tax Act 2007.
44 Payments
This clause applies to a FamilyBoost payment.
Nicola Purvis,
Acting Clerk of the Executive Council.
Explanatory note
This note is not part of the regulations but is intended to indicate their general effect.
These regulations, which come into force on 1 October 2024, amend Schedule 3 of the Residential Care and Disability Support Services Regulations 2018. The amendments relate to a FamilyBoost payment made to a person under subpart MH of the Income Tax Act 2007.
The amendments ensure that, for the first 12 months after each such payment is made, the payment is an exempt asset for the purposes of the means assessment to determine a person’s eligibility for financial support for long-term residential care under the Residential Care and Disability Support Services Act 2018.
Date of notification in Gazette: 15 August 2024.
These regulations are administered by the Ministry of Social Development.