“Late Night” host Seth Meyers has been an ardentcritic of the Republicans’ proposed tax cuts ― but one deduction they’re planning to leave untouched in the House version really got the host going on Thursday.
“Think of the most Donald Trump-friendly tax break you could possibly imagine,” Meyers said.
“The only thing that would be more beneficial to Donald Trump is a tax break that lets you claim your defendants as dependents,” Meyers cracked.
The golf comments start at around the 7:35 mark above.
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Yes, students do have to pay tax
Are you a student with a job? Then contrary to the popular myth, you do have to pay tax. National Insurance is taken if you earn more than £155 a week, and Income Tax if you earn more than £204 a week. Happily though, if you think you've been overcharged or you stop working part-way through the year, you can claim a tax refund.
But what if I go travelling?
If you go abroad and get a job while you're away, you could still be taxed on anything you earn over your Personal Allowance (£10,600 usually). On top of that, if your employer is based in the UK, you may also have to pay National Insurance. Even if that's not the case, you may find that you have to pay contributions to the country you're working in.
If you're an international student looking to work in the UK while you study
Some double-taxation agreements ensure that students from certain countries don't need to pay tax on anything they earn. However, if your home country doesn't have an agreement like this with the UK, you'll have to pay tax in the same way as those who have immigrated over here.
The tricky question of council tax
Do you need to pay council tax? Generally, no. However, if you're a part-time student rather than full-time, or one of your housemates leaves their course, you might be liable to pay.
What will change under Labour?
Well, according to the Labour manifesto, not much really. However, Ed Miliband pledged in February that Labour would cut the top rate of tuition fees from £9,000 to £6,000, and maintenance loans will increase to families with an income of up £42,000 a year. The SNP have also pledged to reduce tuition fees, so if the rumours of a deal between the two parties are true, students could well see a reduction in this area after all.
Under the Conservatives
Again, not much will change under another Tory government. However, if you study Maths or Physics at university AND commit to teaching for at least three years after you graduate, David Cameron might give you £15,000 towards your studies.
And now for the Lib Dems
While many students may be, well, a bit apprehensive of voting for the Lib Dems this time round, the party does have some clear ideas on tax. They've pledged to raise personal allowance to £12,500. Still probably won't affect most students however. What may affect students (with terrible jobs) though, is the promise that you won't have to pay tax if you're only being paid the minimum wage.
And here goes the Greens
Fitting in with their pro-student image, the Green Party are the only contender in the General Election who has promised to scrap tuition fees in the UK altogether. On top of this, the Greens also support increasing the minimum wage to £10 per hour by 2020 (£2 more than Labour reckon they can do) as well as creating more than one million jobs. Useful, if that student loan is running out.
We read the UKIP manifesto so you don't have to!
Apart from the standard 'raise personal allowance' stuff we've seen in many of the manifestos so far, Farage and UKIP have some quite clear ideas on their vision for higher education in the UK. For one, UKIP would remove tuition fees for students studying science, medicine, technology, engineering, or maths on the condition that they live, work and pay tax in the UK for five years after the completion of their degrees, and additionally students from the EU would be made to pay the same rates as International students. Not hugely beneficial to the vast majority of students, Nigel.
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