National Library of New Zealand
Harvested by the National Library of New Zealand on: Aug 27 2009 at 8:33:38 GMT
Search boxes and external links may not function. Having trouble viewing this page? Click here
Close Minimize Help
Wayback Machine

ACT’s tax cuts better for students

Posted on 09 Aug 2005
Students will be far better off with ACT’s tax policy than Labour’s loans bribe, ACT Leader Rodney Hide said today.
 
“Under Labour’s high tax policies, students will pay around $1.1 million in income tax over their working lives. 
 
“ACT’s lower tax policies would slash that by more than $300,000 by letting voters keep more of their hard earned money. The amount of interest students would save under Labour’s proposal pales in comparison, to the amount of tax savings they would get during their entire working life with ACT.
 
“The reality is that for practically any size student loan, those graduating will be better off with ACT’s tax policy, 15 cents up to $38,000 and 25 cents after that.
 
The table compares the total years of repayment under current policies, Labour’s interest write-off, and ACT’s tax cuts, with tax cuts applied to loan reduction.
 
Loan amount
Salary
current repayment (years)
repayment years under Labour
repayment years under ACT
10,000
25,000
18
12
7
15,000
30,000
17
11
8
30,000
50,000
13
10
7
 
“Such a simple comparison shows ACT’s tax cuts are better for students than Labour’s interest write off. They put more money in graduates’ pockets and help repay loans faster,” Mr Hide said.
 
ENDS
 
Rodney Hide MP
rodney.hide@parliament.govt.nz
Phone:            04 470 6630  /  021 772 385
Fax:                 04 473 3532
Michelle Brooker, Press Secretary
michelle.brooker@parliament.govt.nz
Phone:            04 470 6644  /  021 995 601