How to make a repayment in New Zealand
When to use
- Self-employed: for any repayment you want to make, for example, interim or additional repayments.
- Salary or wage: repayments will be deducted from your pay through your tax code (see "Find out more" below). Use the methods here for any other repayments for example, paying a bill or making additional repayments.
What you need
Your IRD number.
Important- repaying overdue amounts:
Ensure you specify the year the repayment relates to. If you don't, we'll apply the repayment to the current year (1 April 2008 to 31 March 2009).
Internet banking
If you use online banking to make loan repayments, you need to enter details of your repayments accurately so we can apply them to your loan account.
The following banks have specialist tax payment facilities which you can use to pay your student loan; ANZ, ASB, BankDirect, Bank of New Zealand, Kiwibank, The National Bank, New Zealand Home Loans, Sovereign Home Loans and Westpac. If your bank isn't listed here, you'll need to follow the "Guidelines for internet banking" below.
Automatic payment
You'll need to complete an Automatic payment authority (IR586) form and give it to your bank. Enter the following:
- in the Tax type box enter "SLS", and
- in the Tax year box enter the tax year you want the repayment applied to.
Debit or credit card repayment
We accept both MasterCard and Visa. To make a repayment go to Debit and credit card payments for child support and student loans under "Get it done online".
From 1 July 2008, people who use a debit or credit card to make a student loan payment will no longer incur a 2.49% bank convenience fee.
In person at Westpac
You can make a repayment by cash or cheque at any branch of Westpac, using a repayment slip (attached to the bottom of your statement or available through Westpac branches). If you use a tax slip from Westpac, enter the following:
- in the Tax type box enter "SLS", and
- in the Period ended box enter the tax year you want the payment applied to.
Send us a cheque
You need to include a note advising the repayment is for your student loan and the tax year the repayment applies to. You also need to include your name, address and IRD number. Post the cheque to:
Inland Revenue
PO Box 39050
Wellington
Please do not send us cash. Cash payments can only be made at Westpac.
Guidelines for internet banking
If your bank doesn't offer a tax payment service, please:
- In the payee name and bank panels, enter "Inland Revenue" and our account number
03 0049 0001100 27. These details stay the same every time.
ASB customers only: you'll need to enter three digits in the account suffix number, use 027 - In the particulars panel, enter your IRD number.
- In the payee code panel, enter SLS. Leave the next box blank, then enter the tax year this repayment is for, not the date you're making the repayment. This must follow the format 3103200X.
- Leave the reference panel blank.
Find out more
Next steps
Date published: 30 Jun 2008
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