1 Short Title and application

2 Interpretation

2A Application of Act to bonded scholarships

3 Act to bind the Crown

4 Transfer of loan balances to Commissioner for collection

5 Notice to borrower

6 Right to object to amount of loan balance being transferred

7 Loan manager to consider objections

8 Power to require objection to be determined by chief executive

9 Chief executive to consider objections

10 Extension of time for objection

11 Right to apply to Disputes Tribunal or District Court

12 Prohibition on transfers

13 Notice of total amount outstanding

14 Repayment obligation for New Zealand based borrowers

14A Declaration of world-wide income by certain borrowers

15 Commissioner to assess borrower's repayment obligation

16 Sections of Tax Administration Act 1994 and Income Tax Act 2007 relating to returns and assessments to apply

17 Borrowers to whom repayment deduction provisions of this Part apply

17B Repayment codes for application of PAYE rules

18 Borrower's notice to employer of requirement for repayment deductions

19 Employer or PAYE intermediary to make repayment deductions

20 Standard deduction rate

21 Special deduction rates

22 Commissioner may assess amount of repayment deductions

23 Deductions from income-tested benefits

24 Information to show repayment deductions made

25 PAYE rules of Income Tax Act 2007 to apply to repayment deductions

26 Borrowers to whom interim repayment provisions of this Part apply

27 Amount of interim repayments

28 Interim repayments to be paid in same manner as provisional tax

29 Borrowers to whom terminal repayment provisions of this Part apply

30 Payment of terminal repayment obligation

31 Definitions used in this Part

32 Overseas based borrowers are entitled to 3-year repayment holiday

32A Repayment obligations of non-resident borrowers [Repealed]

32B Interest chargeable [Repealed]

33 Borrowers may choose not to have repayment holiday

34 Repayment obligations of overseas based borrowers

35 Repayment obligations of overseas based borrowers subject to penalties

36 Repayment to be made by instalments

36A Repayment obligation for borrowers who are overseas based for part of tax year

36B Assessments in year borrower is overseas based

37 Borrower to advise Commissioner of absence from New Zealand

38 Borrower to advise Commissioner of return to New Zealand

38AA Full interest write-off for certain borrowers

38AB 183-day requirement

38AC Full interest write-off ceases if borrower is personally absent from New Zealand for 184 days

38AD Treatment of partial days

38AE Power of Commissioner to grant exemptions to borrowers who do not satisfy 183-day requirement

38AEA Conditions to charitable organisation exemption

38AF Conditions to unexpected delay exemption

38AG Conditions to unplanned personal absence exemption

38AH Conditions to employment or occupation absence exemption

38AI Conditions to marriage, civil union, or de facto exemption

38AJ Power of Commissioner to grant exemption to borrowers undertaking study at post-graduate or under-graduate level overseas

38AK Terms of full interest write-off

38AL Commissioner's discretion for initial 183-day period for new borrowers

38A Full interest write-off for full-time, full-year students [Repealed]

38B Full interest write-off for part-time or part-year students [Repealed]

38C Amount of full interest write-off [Repealed]

38D Conditions for full-interest write-off [Repealed]

39 Base interest write-off where income below repayment threshold [Repealed]

40 Interest reduction where base interest exceeds 50% of repayment obligation [Repealed]

41 Conditions for base interest write-off [Repealed]

42 Interest adjustment in respect of credit balances

43 Interest statement

44 Late payment penalties

44A Underestimation penalty where interim repayments underestimated as at final instalment date

44B No interest on portion of loan balance subject to penalty

45 Notification of penalties

45A Amnesty in respect of late payment penalties [Repealed]

45B Conditions of amnesty [Repealed]

45C Effect of amnesty on repayment obligation and interest [Repealed]

45D Repayment obligation and penalties may be reinstated if amnesty condition breached [Repealed]

46 Recovery of repayment obligation

47 Payment date not otherwise specified

48 Date on which payments deemed to have been made

49 Date on which payments deemed to have been credited

50 Priority of payments

51 Power of Commissioner in respect of small amounts

51A Commissioner may refrain from collecting amounts between $5 and $333

52 No liability in respect of small amounts of penalty

53 Relief from penalty

54 Borrowers may apply for hardship relief

55 Commissioner may refund or reduce amounts deducted or paid for repayment obligation

55A Effect of Commissioner's decision under section 55(a)

55B Effect of Commissioner's decision under section 55(b)

55C Effect of Commissioner's decision under section 55

55D Borrowers must inform Commissioner of change of circumstances and Commissioner may review

56 Excess repayments made by residents

57 Election by overseas based borrower to receive refund or to apply overpayment to loan balance

57A Application of sections 57B to 57D

57B No refunds for deductions or payments made prior to 1 April 2004

57C Certain refunds not entitled to full interest write-off under section 38AK

57D Commissioner's discretion in cases of significant financial hardship

58 Repayment obligation paid in excess may be set off against increased repayment obligation when assessments reopened

58A Repayment obligation paid in excess may be refunded when assessments reopened

59 Appropriation of refunds

60 Write-off of loan balance

60A Cancellation of interest if IRD loan balance repaid early

61 Tax year other than 12 months due to change in balance date

62 Disclosure of information

62A Disclosure of information for information matching purposes

62B Power of Commissioner to access arrival or departure information

63 Act to supplement loan contract

63A Loan contract enforceable against minor

64 Objection to assessment of repayment obligation

65 Objection to amount of interest charged

65A Objection to decision concerning grant of exemption

66 Objection to penalty

66A Objection to decisions concerning penalty amnesty [Repealed]

66B Objection to decision concerning significant financial hardship

67 Objection to assessment of repayment deduction

68 Challenge to penal repayment obligation

69 Objector

69A Application of Parts 4A and 8A of Tax Administration Act 1994

69B No right of challenge to interest payable under loan contract

70 Manner in which objection to be made [Repealed]

71 Time for objection [Repealed]

72 Objection to amended assessment or notice [Repealed]

73 Extension of time for objection [Repealed]

74 Commissioner to consider objections [Repealed]

75 Objector may refer disallowed objections to Taxation Review Authority [Repealed]

76 Objections to which this Part does not apply [Repealed]

77 Offences in respect of repayment deductions

78 Penalties for offences in respect of repayment deductions

79 Other offences

80 Officers and employees of corporate bodies [Repealed]

81 Offence to prejudice employees because of student loan repayment liability

82 Proceedings to be taken summarily

83 Information may charge several offences

84 Information may be laid within 10 years

85 Penal repayment obligation in case of evasion

86 Penal charge for default in paying repayment deduction [Repealed]

87 Regulations

88 Full interest write-offs, base interest write-offs, and interest reductions validated

89 Interpretation

90 No need to issue non-resident repayment obligations for period before 1 April 2007

91 Penalties cancelled, and interest imposed, for certain non-resident borrowers

92 Application of sections 93 to 105

93 Borrowers whose loan balance is not increased under section 103

94 Amnesty condition for borrowers who apply for amnesty after 31 March 2007

95 Payment arrangements if amnesty application date is between 1 April 2007 and 31 August 2007

96 Payment arrangements if amnesty application date is between 1 September 2007 and 29 February 2008

97 Payment arrangements if amnesty application date is in March 2008

98 Commissioner may reduce instalments if significant financial hardship

98A No repayment deductions to be made from income-tested benefits before 1 April 1994 [Repealed]

99 Relationship with New Zealand based repayment obligations

100 Amnesty condition for people who applied for old amnesty before 1 April 2007

101 What happens if amnesty condition breached

102 One time opportunity to correct amnesty condition breach

103 Increase to loan balance if borrower does not come under amnesty or if amnesty condition breached

104 Objection to decisions concerning penalty amnesty

105 Commissioner must apply rest of Act accordingly

106 Full repayment holiday entitlement for borrowers who are overseas based on 1 April 2007 and compliant

107 Restricted repayment holiday entitlements for borrowers who are overseas based on 1 April 2007 and non-compliant

108 Restricted repayment holiday entitlements for borrowers who are overseas based on 1 April 2007 and do not comply with amnesty conditions

109 Interrelationship of sections 31 to 36B, Part 8, and sections 107 and 108

110 Full repayment holiday entitlement for borrowers who meet amnesty conditions

111 Full repayment holiday entitlement for borrowers who meet amnesty conditions and do not apply under section 110

112 Application of repealed provisions of Tax Administration Act 1994