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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

83: Commissioner may assess interim payments if information for preceding year not provided

You could also call this:

“The Commissioner can guess your loan payments if you didn't share last year's income information”

If you’re a student loan borrower and you didn’t tell the Commissioner about your adjusted net income for the previous tax year, they can work out your interim payments for the current tax year. They’ll do this using a special method from the Income Tax Act 2007.

When the Commissioner works out your interim payments this way, the usual rules about how to figure out your interim payments don’t apply. This means the Commissioner can use a different method to decide how much you need to pay.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3885540.

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Education and learning > Higher education Money and consumer rights > Banking and loans
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Part 2 Repayment obligations of borrowers
Repayment obligations for New Zealand-based borrowers with income other than, or as well as, salary or wages

83Commissioner may assess interim payments if information for preceding year not provided

  1. The Commissioner may assess a borrower’s interim payments for a tax year in the manner set out in section RC 6(3) of the Income Tax Act 2007 if, for the immediately preceding tax year, the borrower did not provide a statement of adjusted net income.

  2. Section 82 does not apply if the Commissioner makes an assessment in accordance with subsection (1).

Notes
  • Section 83: 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 83(1): replaced, on , by section 16 of the Taxation (Residential Land Withholding Tax, GST on Online Services, and Student Loans) Act 2016 (2016 No 21).