Changes to RWT
The new rates will be:RWT (resident withholding tax) rates on interest are changing from 1 April 2010.
Trusts will still have RWT rates of 33%.
For more information, please contact our office.
Minimum Wage Rates
The government has moved to increase the minimum wage for adults by 25c from the 1 April 2010.The new rates will now be:
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Adults (16 and over who are not new entrants or trainees) $12.75 per hour.
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New Entrants (16 and 17 except for those who have completed 200 hours or 3 months of employment, whichever is shorter; or who are supervising or training other workers; or who are trainees) $10.20 per hour.
Student Loan Voluntary Repayment Bonus
If you make voluntary repayments of $500 or more p.a. on your student loan, in addition to your compulsory repayments, you will have an extra 10% credited to your loan balance to help you repay your loan faster.
You can make small voluntary repayments throughout the tax year or a lump sum, as long as it totals $500 or more. For example, just $10 a week extra could mean you are eligible for the bonus.
Mileage Rates
