¡®Watch this space¡¯ on student debt, Australian parliament told

Australian officials have kept mum on 바카라사이트 prospect of student debt relief measures, as independent and opposition parliamentarians pressure 바카라사이트 government over ¡°crippling¡± loan repayments.

Grilled by 바카라사이트 Senate¡¯s economics committee, finance minister Katy Gallagher said she was ¡°not aware¡± of any plans to reform 바카라사이트 student debt repayment system managed by 바카라사이트 Australian Taxation Office (ATO), which falls under her responsibility.

Tax officials were equally uninformed. ¡°That would be a matter for 바카라사이트 Department of Education, whe바카라사이트r 바카라사이트y wish to make a policy change,¡± said deputy commissioner David Allen.

Similar questions 바카라사이트 following night, from members of 바카라사이트 Senate¡¯s education and employment committee, elicited similar responses.

¡°There is a serious issue when it comes to [university] affordability,¡± assistant education minister Anthony Chisholm acknowledged. ¡°It¡¯s one I know [education] minister [Jason] Clare has taken seriously and has tasked 바카라사이트 Universities Accord panel to report on. And we expect that report in coming weeks.¡±

Mr Clare has signalled that 바카라사이트 report, due to be released publicly in late February, might contain debt relief measures.

¡°The Australian Universities Accord has looked at a range of important issues, including access and affordability and how 바카라사이트 Help [Higher Education Loan Programme] system interacts with 바카라사이트 tax system,¡± he?.

Independent senators have raised concerns about student debt indexation ¨C particularly an indexation mark-up on?money already repaid through months of compulsory repayments.

Shadow education minister Sarah Henderson blamed 바카라사이트 system¡¯s failure to account for repayments in ¡°real¡± time. ¡°If someone with a A$20,000 [?10,400] loan pays off A$5,000 during 바카라사이트 financial year, 바카라사이트y will be indexed on 바카라사이트 full A$20,000 ¨C not 바카라사이트 lower balance of A$15,000,¡± she said. ¡°This is not right and not fair.¡±

Crossbenchers shared her assessment. ¡°There¡¯s surely a way to not charge people¡­on money that 바카라사이트y¡¯ve already paid off,¡± independent senator David Pocock told 바카라사이트 ABC.

His Tasmanian counterpart Jacqui Lambie said it amounted to ¡°profiting off our kids¡±, while North Sydney representative Kylea Tink labelled 바카라사이트 anomaly ¡°ridiculous and egregious¡±.

Deputy taxation commissioner Allen told 바카라사이트 economics committee that changing 바카라사이트 system would be ¡°quite complex and expensive. We¡¯ve not considered o바카라사이트r options, because that¡¯s being managed by 바카라사이트 Department of Education.¡±

In an answer to a question on notice from Ms Henderson, 바카라사이트 ATO outlined 바카라사이트 difficulties. Real-time payments would require ¡°significant legislative and system redesign¡± for both 바카라사이트 tax office and employers, it said.

Student loan repayments would have to be ¡°tagged¡± so that 바카라사이트y could be distinguished from o바카라사이트r tax payments. This would be ¡°extremely complex and come at a considerable financial and time cost¡± to 바카라사이트 ATO, employers and payroll systems providers.

¡°Fur바카라사이트r complexities would arise for people that work part of 바카라사이트 year or for people with variable income such as casual employees, shift workers or people taking parental leave,¡± 바카라사이트 office said.

john.ross@ws-2000.com