LEG-18-MIN-0187 – Minute: Student Loan Scheme (Repayment Threshold) Regulations 2018

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Student Loan Scheme (Repayment Threshold) Regulations 2018

Portfolio Revenue

On 13 December 2018, the Cabinet Legislation Committee:

1. noted that on 5 December 2016, the Cabinet Legislation Committee agreed to the methodology for calculating the student loan repayment threshold and funding changes for 2017/18 and out-years [CAB-16-MIN-0655];
2. noted that an Order in Council is required under section 215(a) of the Student Loan Scheme Act 2011 to set the student loan income repayment threshold;
3. noted that the Student Loan Scheme (Repayment Threshold) Regulations 2018 will increase the student loan repayment threshold to $19,760 for the 2019/20 tax year;
4. noted that increasing the student loan repayment threshold for the 2019/20 tax year has no impact on the operating balance and no changes to appropriations are required;
5. authorised the submission to the Executive Council of the Student Loan Scheme (Repayment Threshold) Regulations 2018 [PCO 21752/2.0];
6. noted that the Student Loan Scheme (Repayment Threshold) Regulations 2018 will come into force on 1 April 2019.

Vivien Meek
Committee Secretary

Present:
Rt Hon Winston Peters
Hon Chris Hipkins (Chair)
Hon Andrew Little
Hon Iain Lees-Galloway
Hon Damien O’Connor
Hon Julie Ann Genter
Hon Eugenie Sage
Hon Ruth Dyson (Senior Government Whip)

Officials present from:
Officials Committee for LEG

Hard-copy distribution:
Minister of Revenue