Adding a student loan special deduction rate (New Zealand)
At times IRD may issue a Special Deduction Rate (SDR) or Special Tax Code (STC) certificate for a Student Loan rate to be used instead of the standard Student Loan rate for a specified period.
The certificate should specify the required tax code, rate to be used and the period the certificate is for. If there is any doubt about the wording of the certificate, contact Inland Revenue for clarification.
If a Special Deduction Rate (SDR) certificate has been issued by IRD, to apply these details to the employee the following will need to done:
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