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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 - Exemption from standard deductions for borrowers who are full-time students

58: Withdrawal of declaration

You could also call this:

“You can change your mind about not paying your student loan from your pay”

If you have told the government that you are a full-time student and don’t want money taken from your pay for your student loan, you can change your mind. To do this, you need to tell two people:

  1. You need to tell the person in charge at the tax office (called the Commissioner).
  2. You also need to tell the person or company that gives you your pay (your employer).

When you tell both of these people, it means you are taking back what you said before about being a full-time student.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180143.

Topics:
Education and learning > Higher education Money and consumer rights > Banking and loans
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57: Consequences of exemption from standard deductions, or

"What happens when you don't need student loan money taken from your pay"

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59: Notice of change of circumstances, or

"Tell IRD and your boss if something changes with your student loan"

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

58Withdrawal of declaration

  1. A borrower may withdraw a declaration under section 55 by—

  2. notifying the Commissioner; and
    1. notifying the borrower's employer.