Celebrating 25 Years of Scoop
Student loan repayment threshold remains same
Hon Peter Dunne
Minister of Revenue
Wednesday,
16 December 2009
Media Statement
Dunne: Student loan repayment threshold remains same
The income threshold at which New Zealand-based borrowers must begin repaying their student loans will remain at $19,084 for the 2010-11 tax year, Revenue Minister Peter Dunne announced today.
The threshold is reviewed annually and in previous years has generally been adjusted according to the September consumer price index.
“The decision to hold the student loan repayment threshold at the current level for the 2010-11 tax year takes into account the current economic climate and the very significant cost of this $9.6 billion asset to the Crown,” Mr Dunne said.
“While the impact on individual borrowers is likely to be minimal, the effect of maintaining the current repayment threshold is expected to lower the overall costs of the scheme to the Crown and is the right decision for the times,” Mr Dunne said.
The threshold will be reviewed again for the 2011-12 tax year.
ENDS
Gordon Campbell: On The Royal Commission Report Into Abuse In Care
PSA: Overturning Court Of Appeal Decision On Foreshore And Seabed Is Abuse Of Power
NZ Labour Party: Charter Schools To Remove The Rights Of Teachers
Te Pāti Māori: Te iwi Māori Will Not Stand For Another Foreshore And Seabed
Cooper Legal: Lawyers For Survivors Support Royal Commission’s Call For Urgent Action
IHC New Zealand: IHC Slams Winston Peters' Use Of Retard As An Insult In Parliament
NZ Government: PM Speech To Parliament – Royal Commission Of Inquiry’s Report Into Abuse In Care
