New legislation - 2006: Orders in Council (2006)
Student loan scheme charitable organisations (Order in Council)
Section 87 of the Student Loan Scheme Act 1992
Under section 38AE 1(b) of the Act, a student loan borrower who has been personally absent from New Zealand because he or she was working as a volunteer or for token payment for a charitable organisation named in the regulations may be granted an exemption. An exemption entitles that borrower to a full interest writeoff, which gives effect to the government's interest-free student loan policy.
Borrowers living overseas for more than six months will generally not qualify for the interest-free student loans policy which came into effect from 1 April 2006. However, the law gives the Commissioner of Inland Revenue to grant an exemption for certain borrowers who are overseas.
The charitable organisations covered by the exemption are:
- Adventist Development and Relief Agency International (ADRA);
- Alay Buhay Foundation Trust;
- Amnesty International;
- ANCOP Foundation International Inc;
- Anglican Social Services (Hutt Valley) Trust Board;
- Caritas Internationalis;
- ChildFund International;
- Christian Blind Mission International (CBMI);
- Christian World Service (CWS);
- CORSO Incorporated;
- Doctors Without Borders/Médecins Sans Frontières;
- ECPAT International;
- Habitat for Humanity International;
- Hibiscus Coast East Timor Appeal Trust (HETA Trust);
- IHC New Zealand Incorporated;
- International Federation of Red Cross and Red Crescent Societies;
- IN Network;
- International Save the Children Alliance;
- Mahitahi Catholic Overseas Volunteer Trust;
- Mobility Equipment for the Needs of Disabled Trust (MEND);
- New Zealand Family Planning Association Incorporated;
- New Zealand Vietnam Health Trust;
- Oxfam International;
- Pax Christi International;
- RedR International;
- Richmond Fellowship International (RFI);
- Rotary International;
- Soroptimist International;
- SurfAid International;
- Te Ora Hou Aotearoa Incorporated;
- TEAR Fund;
- The Cambodia Trust;
- The Foundation for Peace Studies Aotearoa/New Zealand Incorporated (The Peace Foundation);
- The Fred Hollows Foundation;
- The Leprosy Mission International (TLM);
- The Salvation Army International;
- The UMMA Trust;
- The Volunteer Ophthalmic Services Overseas Charitable Trust (VOSO);
- Trade Aid New Zealand Inc;
- United Nations Children's Fund (UNICEF);
- United Nations Development Fund for Women (UNIFEM);
- Vietnam Cambodia and Laos Support Network (VICALSN);
- Vision Pacific Charitable Trust;
- Volunteer Service Abroad Inc;
- World Vision International;
- WWF; and
- World Young Women's Christian Association (World YWCA).
The amendments were made by Order in Council on 27 March 2006 and came into force on 1 April 2006. (Student Loan Scheme (Charitable Organisations) Regulations 2006, 2006–68)
Other pages in: Orders in Council (2006)
- Fees payable to the Government Actuary (Financial Markets Authority from 01.05.2011)
- KiwiSaver Regulations
- KiwiSaver Act Commencement Order
- Forests (Payment of Money) Order 2006
- Student Loan Scheme - repayment threshold for the 2007-08 tax year
- New double tax agreements with Chile, Poland and Spain, new protocols to Australia and Singapore agreements
- Payroll subsidy rate set by regulation
- Student loan interest rates for 2006-07
- Student loan interest rate formula
- Student loan scheme - repayment and interest write-off thresholds for the 2006-07 tax year
Date published: 27 Mar 2006
Back to top
