Tax Reminders!!!

Date: 10th January 2013

Timely reminders

§    Provisional tax payment due Jan 15 for March, July or November balance dates, or Jan 28 if you have a December balance date

§    Your GST return and payment may also be due Jan 15

§    Interim student loan payments due Jan 15

§    Quarterly FBT return and payment due Jan 28

Changes to student loans and allowances

The following changes will come into effect on 1 January 2013:

§    Student Allowances will no longer be available for postgraduate study commencing from 1 Jan (except for Bachelor degrees with honours)

§    All exemptions to the 200-week limit for Student Allowance will be removed from 1 Jan 2013 (except for special circumstances)

§    Borrowers making significant under-deductions will be forced to make a compulsory extra student loan deduction – IRD will arrange directly with their employer to recover the outstanding amount

§    Those 55 and over will no longer be eligible to borrow living or course-related costs (with exceptions, depending on when you were enrolled)

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