Work out your student loan repayment obligation and interim repayments

You are not required to make interim payments, but, you can choose to make voluntary student loan payments at any time. This will also reduce the amount you need to pay at the end of the year.

You’ll need to make interim payments in the next tax year.

Your interim assessment for the year is your previous year’s repayment obligation plus 5%. If you have not filed the previous year’s return by the time the interim payment is due, then your interim assessment will be based on the repayment obligation in the year before the previous year, plus 10%.

Most people's interim payment dates will be 28 August, 15 January and 7 May, with any remaining payment due on 7 February the following year. If your income year does not end on 31 March, call us to find out when your payments are due.

Reducing your interim payments

Your interim payments are based on your previous year's income. The more you earn, the bigger the interim payments will be. If we tell you what your interim payments will be, but you think your income is going to be less than the year before, you can ask us to reduce the interim payments.

To do this, you must estimate what your total adjusted net income will be for the year. Base this on what you expect to earn, including other income types and adjustments. If you expect to earn any income from salary or wages you'll also need to estimate this.

If your expected yearly income changes after making an estimation, you can re-estimate your interim assessment as many times as you need to up to your final interim payment date.

It is important to make sure your estimate is accurate. If your estimate is less than what you need to pay, we may charge you a penalty.

You can estimate your interim assessment via myIR. You will need to:

• Select Student loan account
• Select More under I want to
• Select Estimate interim assessment
• Enter the required details and click Submit.

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