Strypey on Nostr: The threshold where compulsory student loan repayments kick in - $28,828 for the 2024 ...
The threshold where compulsory student loan repayments kick in - $28,828 for the 2024 tax year - has also failed to keep up with inflation. That solo parent, struggling on $700 per week in the hand - barely enough to cover rent in some areas - gets about $44,000 per year before tax.
We don't have to repay student loans out of benefits. But any secondary income - already getting taxed at 17.5% - gets a 12% student loan tax tacked on. An effective tax rate of about 30%.
(5/?)
Published at
2023-05-20 03:55:49Event JSON
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"content": "The threshold where compulsory student loan repayments kick in - $28,828 for the 2024 tax year - has also failed to keep up with inflation. That solo parent, struggling on $700 per week in the hand - barely enough to cover rent in some areas - gets about $44,000 per year before tax.\n\nWe don't have to repay student loans out of benefits. But any secondary income - already getting taxed at 17.5% - gets a 12% student loan tax tacked on. An effective tax rate of about 30%.\n\n(5/?)",
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