Repaying my student loan when I am self-employed or earn other income

If you earn any income other than salary and wages, you may need to make your own student loan repayments. The amount of your repayments depends on your salary and wage income plus any adjusted net income. 

The amount you have to pay to your student loan each year is 12% of every dollar you earn over the repayment threshold. The annual repayment threshold is:

• $24,128 for the 2025 tax year (1 April 2024 to 31 March 2025)
• $22,828 for the 2024 tax year (1 April 2023 to 31 March 2024).

Adjusted net income

Adjusted net income is any income you earn that is not salary or wages, minus any expenses. Losses are not included in your adjusted net income.

Adjusted net income includes income from:

• self-employment and contracting work
• withholding tax income
• trust income
• interest, dividends and Māori authority distributions
• shareholder salary
• casual agricultural and election day work
• rental properties
• overseas income and investments
• partnership income
• directors' salary
• selling property - if the sale is considered taxable.

Buying and selling property

If you have any of the above income sources, you will need to file an income tax return at the end of the tax year.

Adjusted net income also includes other sources of income that may not need to be declared on an income tax return.

You'll need to file an Adjust your income - IR215 form if you receive any of these other sources of income.

Adjust your income for Working for Families and student loans

End-of-year repayment obligation on adjusted net income

If you have adjusted net income, you will have an end-of-year repayment obligation if your adjusted net income:

• is $500 or more
• plus any salary and wage income is over the annual repayment threshold. 

Work out when you'll pay off your student loan

Use our student loan repayment calculator if you want to see how long it will take to pay off your loan.

Student loan repayment calculator