Inland Revenue deductions
There are a number of Inland Revenue deductions. These include tax, student loan repayments and deduction notices.
Tax
New Zealand Superannuation and Veteran's Pension is part of a person's taxable income and must be taken into account when a person is calculating their tax rate. Tax deductions are made in line with the tax code entered in the system and are the first priority for deductions. See:
- New Zealand Superannuation Tax codes
Student Loan repayments
New Zealand Superannuation clients with a student loan must use a tax code with the student loan ("SL") repayment code. This will ensure that student loan repayments are deducted every pay period if required. Student loan repayments are part of a person's tax liability and are first priority for deductions. See:
Inland Revenue deduction notices
These are notices that Inland Revenue issue when a person has a tax debt. They are separate from and additional to their current tax liability, and are second priority deductions. See:
For more information see:
Legislation
- Deduction of tax from payments due to defaulters section 157 Tax Administration Act 1994
