Public 2012 No 39
Issued
2012

Student Loan Scheme (Budget Measures) Amendment Act 2012

2012 Student Loan Scheme (Budget Measures) Act repealed the 10% student loan voluntary repayment bonus introduced in 2009 as it did not lead to faster repayments.

The Taxation (Budget Measures) Bill was introduced under urgency on 24 May 2012. On 25 May 2012, at the Committee of the Whole House stage, the Bill was split by Supplementary Order Paper No 31 into two amending acts: the Student Loan Scheme (Budget Measures) Amendment Act 2012 and the Taxation (Budget Measures) Act 2012. The resulting legislation was enacted on 29 May 2012.

The Student Loan Scheme (Budget Measures) Act 2012 repealed the 10% student loan voluntary repayment bonus.