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New Zealand law explained for everyone

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

48: Time when special deduction rate ceases to apply

You could also call this:

“When your special student loan repayment rate ends”

The special deduction rate is a specific rate for deducting student loan repayments from your pay. You need to know when this rate stops being used. There are three possible end points, and whichever comes first is when the special rate stops:

  1. The end date written on your special deduction rate certificate.
  2. The day the Commissioner tells your employer in writing to stop using it.
  3. The day you tell your employer to stop using it.

Your employer will use the special deduction rate until one of these things happens.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180129.

Topics:
Education and learning > Higher education Money and consumer rights > Banking and loans
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Part 2 Repayment obligations of borrowers
New Zealand-based borrowers' repayment obligations for salary or wages: Unused repayment threshold may be allocated to secondary employment earnings

48Time when special deduction rate ceases to apply

  1. The special deduction rate applies until the earlier of—

  2. the end of the period specified in the special deduction rate certificate; or
    1. the date on which the Commissioner notifies the employer in writing otherwise; or
      1. the date on which the borrower notifies the employer otherwise.

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