Tax Threshold for Student Loans Raised

December 16, 2008 New Zealand FinanceNew Zealand Taxation  No comments

The income threshold for Student Loan repayments has been raised and will come into force on the 1st of April 2009.

Revenue Minister Peter Dunne announced on the 16th of December that post a review of the Student Loan scheme in regards to the September Consumer Price Index of 5.07%, the student loan repayment threshold would be raised from $18,148 to $19,084.

The change received the approved by Order of the Council on the 16th of December.

This alteration is based on the annual review of the Student Loan threshold.