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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.

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 residential 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 will need to file an IR215 - Adjust your income 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
  • adjusted income plus any salary and wage income is over the annual repayment threshold.

The standard end-of-year repayment is 12% for every dollar you earn over the annual repayment threshold.

Work out your end-of-year repayment, if your total income is over the repayment threshold

Work out your student loan repayment obligation and interim repayments

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Last updated: 05 May 2021
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