Unable to set NTFS permissions on share using PowerShell. The user shows up with no rights checked off.

I am having a little problem here with setting NTFS permissions via PowerShell. 

Basically I am able to make a new directory on the share, and assign a user NTFS permissions however it just assigns the select user without any permissions set.

$username = "test.user"
$directory = "\\testlab-sv01\Share\newfolder"

New-Item -Path $directory -ItemType Directory

$colRights = [System.Security.AccessControl.FileSystemRights]"FullControl" 

$InheritanceFlag = [System.Security.AccessControl.InheritanceFlags]::ContainerInherit 
$PropagationFlag = [System.Security.AccessControl.PropagationFlags]::InheritOnly 

$objType =[System.Security.AccessControl.AccessControlType]::Allow 

$objUser = New-Object System.Security.Principal.NTAccount("$username") 

$objACE = New-Object System.Security.AccessControl.FileSystemAccessRule($objUser, $colRights, $InheritanceFlag, $PropagationFlag, $objType) 

$objACL = Get-ACL $directory 
$objACL.AddAccessRule($objACE)

Set-ACL $directory $objACL

A side question, why isn't this native in Powershell? Is it for security reasons? I expected there to be a cmdlet for it. 

Thanks. 

Kyle