Blog

Student loans

If you’re in New Zealand and earn salary or wages, you need to add “SL” to your tax code from 1 April regardless of how much you earn, unless you have an exemption. This will ensure you’re making the right repayments toward your student loan through your pay.

You can apply for a repayment deduction exemption if you’re studying full-time and expect to earn less than the annual repayment threshold ($19,084 for the 2013 tax year).