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Student Loan Scheme Act 2011

Repayment obligations of borrowers - New Zealand-based borrowers' repayment obligations for salary or wages - Exemption from standard deductions for borrowers who are full-time students

55: Declaration by eligible borrowers for exemption from standard deductions

You could also call this:

“Telling the government you don't want money taken out of your pay for your student loan”

You need to make a declaration if you want to be exempt from standard deductions. This declaration must include several things. You have to say which tax year it’s for and what time period you want to be exempt. You also need to give all the information that the Commissioner asks for. When you make your declaration, you need to tell the Commissioner in a way that they find acceptable.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180140.

Topics:
Education and learning > Higher education Money and consumer rights > Banking and loans
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54: Borrowers who are eligible for exemption from standard deductions, or

"Students who don't have to make regular loan payments"

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56: Notice from Commissioner, or

"What happens when you tell the government about your student loan payments"

Part 2 Repayment obligations of borrowers
New Zealand-based borrowers' repayment obligations for salary or wages: Exemption from standard deductions for borrowers who are full-time students

55Declaration by eligible borrowers for exemption from standard deductions

  1. A declaration must—

  2. specify the tax year to which it relates; and
    1. specify the exemption period to which it relates; and
      1. contain all of the information prescribed by the Commissioner; and
        1. be made by notifying the Commissioner in a manner acceptable to the Commissioner.