Attributed interest

Attributed interest is calculated using the following formula:

dependent child interest ÷ relevant major shareholders

For the purposes of this formula, the following definitions apply:

Dependent child interest is the total percentage voting interests for the company held by the person’s dependent children (or the dependent children of their partner), on the last day of the company's income year.

Relevant major shareholders is the total number of parents (or their partner, or other principal caregivers of the dependent children) who are major shareholders of the company on the last day of the company's income year.

This is the value of any payments paid or provided to a parent (from any source) that are:

used by the parent to replace lost or diminished income of the parent or the parent's family, or

used to meet usual living expenses of the parent or the parent's family, and

the total payments for that particular financial year are more than $5,000.

This can include shareholders' drawings. It is the origins of any funds introduced to the business by the shareholder, as well as the nature of the use of any drawings by the shareholder, that will determine whether it is included as parental income.

Donations and gifts your parents received following the Christchurch Mosque Attacks aren’t considered income. However, any income earned from those payments is considered income. This includes interest payments or income from investing these donations or gifts. This applies to study starting on or after 1 January 2021.

A severe weather event payment is money you get to help you repair or rebuild your home, or replace damaged items. It could be paid to you through:

insurance payments

home and or land buyouts

donations

Kaupapa Māori pathway grants.

Payments relating to severe weather event have an income and cash asset exemption. This means it won't affect any payments you get from us. This only applies to specific severe weather events, and it only lasts for 12 months.