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Student Loan Scheme Act 2011

Repayment obligations of borrowers - New Zealand-based non-resident borrowers and borrowers with New Zealand-based and overseas-based repayment obligations

114A: Extension of time for notification of Schedule 3 adjustments

You could also call this:

“Getting more time to report changes to your student loan income or deductions”

If you need to tell the Commissioner about changes to your income or deductions, you can ask for more time to do this. You can ask for an extension just like people do for their tax returns. When you ask for more time:

The Commissioner will treat the due date as the one mentioned in section 114(3) of the Student Loan Scheme Act 2011.

They will think of you as a borrower instead of a taxpayer.

They will understand that you’re notifying them about changes to your income or deductions, not filing a tax return.

The rules for asking for more time are the same as those in section 37(3) to (5) of the Tax Administration Act 1994, but they’ve been changed a bit to fit your situation.

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Topics:
Education and learning > Higher education Money and consumer rights > Banking and loans
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114: Notification of Schedule 3 adjustments by New Zealand-based non-resident borrowers, or

"Kiwi borrowers living overseas must report special changes to their loan"

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115: Repayment obligations of borrowers who are overseas-based for part of tax year, or

"Your student loan repayments change when you're overseas for part of the year"

Part 2 Repayment obligations of borrowers
New Zealand-based non-resident borrowers and borrowers with New Zealand-based and overseas-based repayment obligations

114AExtension of time for notification of Schedule 3 adjustments

  1. This section applies if section 114(2) applies.

  2. A borrower may apply to the Commissioner for an extension of time for notifying the Commissioner of the Schedule 3 adjustments under section 114 in accordance with section 37(3) to (5) of the Tax Administration Act 1994, and those subsections apply, as far as applicable and with all necessary modifications, as if—

  3. the reference to the due date required under this section were a reference to the due date required under section 114(3) of the Student Loan Scheme Act 2011; and
    1. every reference to a taxpayer were a reference to a borrower; and
      1. every reference to a return or a return of income were a reference to a notification of the borrower's Schedule 3 adjustments.

        Notes
        • Section 114A: inserted (with effect on 1 April 2012), on , by section 34 of the Student Loan Scheme Amendment Act 2012 (2012 No 32).
        • Section 114A heading: replaced, on , by section 18(1) of the Taxation (Residential Land Withholding Tax, GST on Online Services, and Student Loans) Act 2016 (2016 No 21).
        • Section 114A(2): amended, on , by section 18(2) of the Taxation (Residential Land Withholding Tax, GST on Online Services, and Student Loans) Act 2016 (2016 No 21).
        • Section 114A(2)(c): amended, on , by section 18(3) of the Taxation (Residential Land Withholding Tax, GST on Online Services, and Student Loans) Act 2016 (2016 No 21).
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