Skip to main content
Skip table of contents

Student loan transactions - percentage field (New Zealand)

The student loan process requires the ability to override student loan rates and percentages at transactional level. Furthermore, for student loan catch-up repayments, IRD provide a principal amount that an employee has to repay at a set percentage rate. Pay processing has to reduce the principal amount each pay correctly until it is zero and then cease repayments.

If a deduction has Calculation method = "L. Student loan", the transaction form contains a Percentage field and the Rate field is disabled.

The value that you enter in the student loan transaction Percentage field overrides the value in the Deduction > Details (ii) tab > Amount or rate field, and the standard 12% student loan rate.

What's next?

Student loan processes (New Zealand)

JavaScript errors detected

Please note, these errors can depend on your browser setup.

If this problem persists, please contact our support.