Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Sneaky tax surprise for tertiary graduates

Sneaky tax surprise for tertiary graduates

Graduates are once again the losers in National’s Budget, this time with changes to student loan repayment thresholds, Labour’s Tertiary Education spokesperson Maryan Street says.

“National has a sneaky tax surprise for tertiary graduates. It has suspended inflation adjustments to the student loan repayment threshold for a further two years until April 2017.

“Students who earn as little as $19,084 have 12 per cent of their after tax earnings taken as automatic student loan repayments. This threshold was booked to rise, but National cancelled the adjustment to claw back $70 million off students who have found work.

“This follows National last year raising repayment levels from 10 to 12 per cent of their earnings which wacked graduates with higher payments, often hundreds of dollars more a month.

“The threshold for repayments was adjusted for inflation under Labour. This meant there was a stronger incentive to find work and recognition that low earners need a little more in their pockets to make ends meet.

“But National has decided to hit low-earners harder. By refusing to lift thresholds with inflation, they are biting further and further into real earnings as living costs rise.

“Students with young families will find much of the support given for new-borns will be swallowed up in tax deducted for student loans. This will hit modest earners the hardest.

“In each and every one of National’s first five budgets, they cut student support. Now they are going after students even as they leave education to make their way in the world,” Maryan Street says.

Ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Greek Riddles:
Gordon Campbell On The Recent Smackdown Over Greece

There had been a fortnight of fevered buildup. Yet here we are in the aftermath of the February 28 showdown between the new Syriza government in Greece and the European Union “troika” and… no-one seems entirely sure what happened. Did the asteroid miss Earth?

It seems to have. The EU still exists. Syriza is now claiming a victory of sorts. It doesn’t help that the only people who do appear to be sure (the Greeks buckled) are claiming the exact opposite to what the other group (the Greeks won!) are saying. Plus, there are bets either way e.g. Bloomberg News: “Its too early to say who caved in to whom.” More>>

 

PARLIAMENT TODAY:

Iraq: Ex-Hostage Says Government Not Putting NZers, Iraqis First

Harmeet Singh Sooden is travelling to Iraq in the coming weeks to work with Christian Peacemaker Teams (CPT) on a short-term assignment. More>>

ALSO:

Joint Statement: Australia-New Zealand Leaders’ Meeting

Prime Minister Key warmly welcomed Prime Minister Abbott and Mrs Abbott to New Zealand. The visit has enabled wide-ranging and substantive discussion that has underlined the strength, value, diversity and warmth of our trans-Tasman relationship. More>>

ALSO:

Press Conference: Peters To Stand In Northland By-Election

New Zealand First Leader Winston Peters has announced his intention to stand in the Northland by-election, citing his own links to the electorate and ongoing neglect of the region by central government. More>>

ALSO:

Gordon Campbell: On The Wage Hike For MPs (and Paul Robeson)

Hard to tell what is more infuriating. Is it the 5.3% increase on the already bloated salaries of MPs, or their pantomime of outrage at being gifted with such a wonderful back-dated bonanza? More>>

ALSO:

No Designers Or Visual Artists: Flag Panel Members Announced

The Government has appointed 12 New Zealanders as members of the Flag Consideration Panel which will engage with the public about a possible new New Zealand flag, Deputy Prime Minister Bill English says. More>>

ALSO:

Labour MP Stands Down From Portfolio: Comment From Carmel Sepuloni

The first I knew of my mother’s charges was when I was called by a reporter yesterday. I spoke to Andrew and we agreed there is a conflict of interest at the present time which means I will temporarily stand aside from the Social Development portfolio. It’s the right thing to do… . More>>

ALSO:

Gordon Campbell: On Whether NZ Troops Are The Least Of Islamic State’s Problems

Given that it has been politically packaged and sold as a training mission, the Iraq deployment announced yesterday by Prime Minister John Key seemed to be mysteriously short of actual trainers... The other wing of the argument is whether a troop deployment is (a) the only effective way and (b) the appropriate time to combat Islamic State. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news