This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on 1 September 2007, amend the Student Allowance Regulations 1998 (the principal regulations).
These regulations apply to the assessment and payment of student allowances for weeks starting on or after 1 January 2008.
Regulation 7 increases by 10% the level of weekly parental income used in calculating the basic grant payable to a single student who is childless and under 25. The basic grant is only reduced if the weekly parental income exceeds the higher threshold of $852.57 per week (increased from $775.06 per week).
As a result of this new threshold, the provision in regulation 5 of the principal regulations, for the reassessment of parental income, is only relevant where parental income exceeds $44,333.64 per annum and that income is decreased by at least 25%. Regulation 5 of the principal regulations is amended to make this clear and to remove the need to refer to Schedule 1 (which is consequentially revoked).