NZ student loan repayments 2026–27
If you live in New Zealand, your employer takes 12% of your pay above the repayment threshold.
| Pay period | Threshold |
|---|---|
| Year | $24,128 |
| Week | $464 |
| Fortnight | $928 |
| 4 weeks | $1,856 |
| Month | $2,010.66 |
Source: IRD, Repaying my student loan when I earn salary or wages
How payroll works it out
- Each pay is rounded down to whole dollars, the period threshold is taken off, and 12% of the rest is deducted (rounded down to the cent).
- Your tax code gets SL added, for example M SL.
- On a secondary job there's no threshold: 12% of all the pay goes to the loan.
Repayments at common salaries
| Salary | A fortnight | A year |
|---|---|---|
| $30,000 | $27.00 | $702.00 |
| $50,000 | $119.40 | $3,104.40 |
| $70,000 | $211.68 | $5,503.68 |
| $100,000 | $350.16 | $9,104.16 |
Paid fortnightly, main job. Add it in the PAYE calculator.
Rates checked 19 October 2026 against IRD for the 2026–27 tax year (1 April 2026 – 31 March 2027). How we calculate · Sources · Accuracy tests · Report an error
Estimate for information only, based on New Zealand 2026–27 rates. Not tax or financial advice. Your payslip may differ (for example tax code, benefits or other deductions).