LEG-19-MIN-0193 – Minute: Student Loan Scheme (Repayment Threshold) Regulations 2019

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Student Loan Scheme (Repayment Threshold) Regulations 2019

Portfolio Revenue

On 3 December 2019, the Cabinet Legislation Committee:

1 noted that on 30 November 2016, the previous government agreed to the methodology for calculating the student loan repayment threshold and funding changes for 2018/19 and out- years [LEG-16-MIN-0163];

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 2019 will increase the student loan repayment threshold to $20,020 for the 2020/21 tax year;

4 authorised the submission to the Executive Council of the Student Loan Scheme (Repayment Threshold) Regulations 2019 [PCO 22509/2.0];

5 noted that the Regulations come into force on 1 April 2020.

Gerrard Carter
Committee Secretary

Present:
Hon Chris Hipkins (Chair)
Hon Stuart Nash
Hon Iain Lees-Galloway
Hon Kris Faafoi
Hon Tracey Martin
Hon Ron Mark
Hon Julie Ann Genter
Hon Eugenie Sage
Michael Wood MP (Senior Government Whip)

Officials present from:
Officials Committee for LEG

Hard-copy distribution:
Minister of Revenue