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Student Loan Scheme Act 2011

Repayment obligations of borrowers - Repayment obligations for New Zealand-based borrowers with income other than, or as well as, salary or wages

76: Commissioner to assess borrower's end-of-year repayment obligation

You could also call this:

"The government calculates how much you owe for your student loan each year"

The government will figure out how much money you need to pay back for your student loan at the end of the tax year. They'll do this after you tell them how much money you earned.

When working this out, the government can look at the information you gave them and any other information they think is important.

They must follow the rules in this part of the law and your loan agreement when they work out how much you owe.

If there's a difference between what the law says and what your loan agreement says, they'll follow what it says in Section 203.

After they work out how much you need to pay, they'll send you a letter. This letter will tell you:

  • How much you need to pay back
  • When you need to pay it by
  • How much you need to pay each time

The letter will also mention some other parts of the law (Sections 81, 84, and 85) that talk about when you need to pay.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180171.

Topics:
Education and learning > Higher educationMoney and consumer rights > Banking and loans
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"You can ask for more time to tell about changes to your student loan repayments"

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76A: Commissioner must assess borrowers to whom section 72(b) applies as having zero repayment obligation, or

"No repayment needed if you meet special conditions"

Part 2Repayment obligations of borrowers
Repayment obligations for New Zealand-based borrowers with income other than, or as well as, salary or wages

76Commissioner to assess borrower's end-of-year repayment obligation

  1. The Commissioner must assess the amount (if any) of a borrower’s end-of-year repayment obligation for a tax year as soon as practicable after the borrower provides a statement of adjusted net income.

  2. In making the assessment, the Commissioner may have regard to—

  3. any document provided under subsection (1):
    1. any other information that the Commissioner considers to be relevant.

      1. The assessment must be made in accordance with this subpart and the loan contract.

      2. Section 203 applies if there is an inconsistency between this subpart and the loan contract.

      3. The Commissioner must, as soon as practicable after making the assessment, notify the borrower in writing of—

      4. the borrower's end-of-year repayment obligation; and
        1. the due dates, if any, on or before which the end-of-year repayment obligation must be paid (see sections 81, 84, and 85); and
          1. the amounts, if any, that must be paid on or before those due dates.

            Compare
            Notes
            • Section 76: replaced (with effect on 1 April 2012 and applying for 2012–13 and later tax years), on , by section 14 of the Student Loan Scheme Amendment Act 2013 (2013 No 10).
            • Section 76(1): replaced, on , by section 13 of the Taxation (Residential Land Withholding Tax, GST on Online Services, and Student Loans) Act 2016 (2016 No 21).