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

No Charges: Outcome
Of Operation Clover Investigation

Police have completed a multi-agency investigation, Operation Clover, into the activities of a group calling themselves “The Roast Busters”. The 12 month enquiry focused on incidents involving allegations of sexual offending against a number of girls in the Waitemata Police district and wider Auckland area.

Following a lengthy and complex investigation, charges are not being laid by Police at this time regarding 8 incidents involving 7 victims and 5 suspects. More>>

 

Parliament Today:

UNICEF Report: NZ Cautioned On "Stagnating" Child Poverty

An international report by UNICEF has found that child poverty rates in New Zealand have barely changed since 2008, despite similar sized countries significantly reducing child poverty during the recent recession. More>>

ALSO:

Funding Report: Two Pathways For Transport In Auckland

Commissioned by Auckland Council, the group was asked to investigate two possible pathways for raising $300 million per year ($12 billion over 30 years) to pay for the improvements needed to help fix Auckland’s transport system. More>>

ALSO:

Pay Equity: Equal Pay Win In Court Of Appeal

CTU: The Court of Appeal has made a historic decision paving the way for a substantial equal pay claim for aged care workers. More>>

ALSO:

Gordon Campbell: On The TPP Finishing Line, And Amazon’s Woes

If the Trans Pacific Partnership trade deal wasn’t such a serious matter, this would be pretty funny… More>>

ALSO:

TV3 Video: Three Die On Roads Over Labour Weekend

The official holiday period ended at 6am Tuesday, with three deaths on the roads during the Labour Day weekend. More>>

Employment Relations Bill: Govt Strains To Get Tea Break Law Through

The Government has been left with egg on its face - failing to get its much-vaunted, but hugely unpopular, meal break law passed in the first week of its new term, Labour spokesperson on Labour Issues Andrew Little says. More>>

ALSO:

Guns: Police Association Call To Arm Police Full Time

"The new minister gave his view, that Police do not need to be armed, while standing on the forecourt of parliament. The dark irony was that the interview followed immediately after breaking news of a gunman running amok in the Canadian parliament in Ottawa..." More>>

ALSO:

Gordon Campbell: On The Tokenism Of New Zealand's Role Against Islamic State

Our contribution against IS will be to send SAS forces to train the Iraqis? That’s like offering trainers to General Custer just as the 7th cavalry reached the Little Big Horn. More>>

ALSO:

Scoop Business: Shell And Todd Caught Drilling Without Approval

Multi-national oil company Shell’s New Zealand arm and local energy giant Todd Energy have breached the new law governing New Zealand’s Exclusive Economic Zone, the Environmental Protection Authority says in an Oct. 10 document released by the Green Party. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news