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Note 7: Transfer Payments and Subsidies

2017 Forecast Actual
Budget
2016
$m
Budget
2017
$m
30 June
2017
$m
30 June
2016
$m
12,912 13,044 New Zealand superannuation 13,043 12,267
1,797 1,763 Family tax credit 1,723 1,793
1,677 1,695 Jobseeker support and emergency benefit 1,697 1,671
1,515 1,530 Supported living payment 1,533 1,523
1,149 1,129 Accommodation assistance 1,127 1,164
1,199 1,164 Sole parent support 1,159 1,153
827 848 Income related rent subsidy 815 755
738 781 KiwiSaver subsidies 743 698
645 610 Other working for families tax credits 596 559
592 539 Official development assistance 520 534
510 477 Student allowances 465 486
376 377 Disability allowances 377 377
1,458 1,547 Other social assistance benefits 1,466 1,332
25,395 25,504 Total transfer payments and subsidies 25,264 24,312

Welfare benefits and entitlements, including New Zealand Superannuation, are recognised as an expense in the period when an application for a benefit has been received and the eligibility criteria have been met.

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