Comments on: Parliament 28 February 2013 http://www.kiwiblog.co.nz/2013/02/parliament_28_february_2013.html DPF's Kiwiblog - Fomenting Happy Mischief since 2003 Wed, 19 Jun 2013 20:48:13 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: Tauhei Notts http://www.kiwiblog.co.nz/2013/02/parliament_28_february_2013.html/comment-page-1#comment-1104636 Tauhei Notts Thu, 28 Feb 2013 01:03:49 +0000 http://www.kiwiblog.co.nz/?p=72067#comment-1104636 This government has been given insufficient credit for the way they are tackling rorts in the Student Loan scheme.
Sorting out these rorts should have been done years ago.
I am thinking here about fringe benefits granted by companies owned by the borrower and other bits.
Example; if I have shares in Fonterra Investment fund and get a $72 dividend it will be tax free as it is a Portfolio Investment Entity.
A student loan borrower’s $72 dividend will be tax free, but the tax man will take $12 of that dividend to reduce the student loan. That is, 12% of the pretax sum of that dividend.
It is difficult to explain, but this government is on the right track.

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