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If you're self-employed or earn income from other sources, you need to make your own student loan repayments. The amount of your repayment depends on your total and adjusted net income.

If your total income is over $21,260 for the tax year ending 31 March 2020 (or $20,520 for the 2021 tax year) use the following calculation to work out your end of year repayment. You may also need to make interim payments throughout the year.

Deduct the annual repayment threshold

Deduct the annual repayment threshold from any salary or wage income.

The annual repayment threshold is $19,760 for the tax year ending 31 March 2020 (or $20,020 for the 2021 tax year).

Deduct any remaining threshold amount from your adjusted net income

Multiply the amount by 0.12

For the 2020 tax year, if the remaining adjusted net income is $1,500 or more (for the 2021 tax year, use $500 or more), multiply the amount by 0.12 to get your end-of-year repayment.

My responsibilities

It's important to repay the right amount for your loan each year. If you pay back too little, we may charge late payment interest on overdue repayments.

If you have adjusted net income that is not shown on a tax return, you will need to adjust your income to declare it.