Student loans Dates
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MAY 7Student loan interim payments are due. They count towards your end of year repayment obligation.
Sometimes the right repayments are not deducted from your salary or wages, and you do not pay enough. When this happens we call it a significant under-deduction.
Use our PAYE/KiwiSaver deductions calculator to check if you’ve had the right amount deducted from your income.
You might not have made enough repayments if either:
- your employer has not deducted the right amount
- you did not use the ‘SL’ tax code for your job.
If your deductions are less than they should be, talk to your employer. Check you are using the correct tax code. If you need to change your tax code, give your employer a new Tax code declaration - IR330. Make sure you include the ‘SL’.
Catching up on payments
We will let you know if you’ve made a significant under-deduction, and get you to pay the missing amount through your salary or wage. We will send your employer a student loan extra deduction notice. Student loan extra deductions can be up to 41.67% of your standard deduction amount. For example, if your standard deduction is $72 each week your extra deduction could be $30 each week ($72 x 0.4167 = $30).
