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Student Loan Scheme Act 2011

Repayment obligations of borrowers - New Zealand-based borrowers' repayment obligations for salary or wages - Unused repayment threshold may be allocated to secondary employment earnings

45: Special deduction rate certificate for unused repayment threshold

You could also call this:

"Getting a special certificate to use your leftover repayment threshold for your second job"

When you have more than one job, you can ask the Commissioner to help you use your unused repayment threshold for your second job. If you do this, the Commissioner might give you a special certificate. This certificate will:

  1. Tell you a special rate for deductions from your second job's pay. This rate takes into account the part of your repayment threshold you haven't used yet. The certificate will also tell you which repayment code to use.

  2. Say how long this special rate will apply to you.

  3. Tell your employer or the person who handles your pay to take out money from your wages at this special rate.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180126.

Topics:
Education and learning > Higher educationMoney and consumer rights > Banking and loans
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44: Calculating borrower's unused repayment threshold for pay period, or

"How to work out the leftover money you can earn before paying back your student loan"

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46: Issue and application of special deduction rate certificate, or

"The government can give you a special paper that changes how much money is taken from your pay"

Part 2Repayment obligations of borrowers
New Zealand-based borrowers' repayment obligations for salary or wages: Unused repayment threshold may be allocated to secondary employment earnings

45Special deduction rate certificate for unused repayment threshold

  1. Upon receiving an application in accordance with section 42, the Commissioner may issue a special deduction rate certificate that, in relation to the borrower's secondary employment earnings,—

  2. specifies a special deduction rate and the repayment code to be used that reflects the borrower's unused repayment threshold for a pay period; and
    1. specifies the period for which the special deduction rate is to apply to the borrower; and
      1. requires the borrower's employer or PAYE intermediary to make deductions from the borrower's salary or wages at the special deduction rate.

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        Notes
        • Section 45(a): amended (with effect on 1 April 2012), on , by section 17 of the Student Loan Scheme Amendment Act 2012 (2012 No 32).