Student Loans – 10% bonus
Early repayments of $500 or more in any tax year off a student loan will earn a 10% bonus. In some cases it may be worth accepting the offer. However, don’t overlook the time value of the money.
Redundancy Rebate
There is a special rebate for redundancy payments of 6 cents in the dollar. If you have to make any of your staff redundant, remind them they can complete form IR524, immediately, and may get a rebate of some tax, depending on the rate they pay and the total pay-out.
