He utu pūtea taurewa tauira waenganui Interim student loan repayments

You'll have to make interim repayments in the next tax year if your end-of-year repayment is $1,000 or more. These help you spread the load of your repayments instead of having to pay a lump sum as the interim repayments you make during the year go towards your end-of-year repayment.

Your interim repayments are based on your last years' end-of-year repayment

Your interim repayment is a total of your end-of-year repayment plus 5%. For example, if your end-of-year repayment last tax year was $2,300, your interim repayments for the next year will be $2,415.

5% of $2,300 = $115
$2,300 + $115 = $2,415

If you've not filed your tax return for the last tax year, your interim repayments will be your end-of-year repayment from 2 years ago plus 10%. For example, if your end-of-year repayment 2 years ago was $2,300, your interim repayments for the next year will be $2,530.

10% of $2,300 = $230
$2,300 + $230 = $2,530

There are 3 interim repayment due dates

Your interim repayment is divided across 3 due dates. For most people the interim repayment due dates are:

• 28 August
• 15 January
• 7 May.

For example, if your interim repayment is $2,415, you'd pay $805 at each due date.

Your due dates may be different if your tax year does not end on 31 March (a non-standard balance date).

You can change your interim repayment amount

If you know your income is going to be quite different from the last tax year, you can choose to estimate your interim repayments. You may want to do this to reduce your interim repayments if you'll earn less this tax year. You can estimate your interim repayments up to your final interim repayment due date.