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Student Loan Scheme Act 2011

Excess repayments - Excess repayment bonus

127: Restriction on amount of 10% bonus

You could also call this:

“The old rule about the extra 10% for paying back more of your student loan is now gone”

This law used to limit how much of a 10% bonus you could get for paying back more of your student loan than you had to. However, this rule no longer exists. It was removed on 1 April 2013, so it doesn’t apply to tax years from 2013-2014 onwards.

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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=DLM3180283.

Topics:
Education and learning > Higher education Money and consumer rights > Banking and loans
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126: Time at which 10% bonus is credited, or

"When you used to get extra money added to your student loan"

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128: Application of sections 118 to 122 and this subpart to part years, or

"Rules about parts of a year no longer apply"

Part 3 Excess repayments
Excess repayment bonus

127Restriction on amount of 10% bonus (Repealed)

    Notes
    • Section 127: repealed, on (applying for 2013–14 and later tax years), by section 7(1) of the Student Loan Scheme (Budget Measures) Amendment Act 2012 (2012 No 39).