(1) In this Act, unless the context otherwise requires,—
borrower means any person who has received a student loan and who has not fully repaid that loan
challenge, for the purposes of Part 5, has the meaning given to it in section 3(1) of the Tax Administration Act 1994
chief executive means the chief executive of the department that is, with the authority of the Prime Minister, for the time being responsible for the administration of the Social Security Act 1964
collection includes administration of a zero loan balance by the Commissioner for the purposes of determining whether the borrower is entitled to an interest write-off or interest reduction or refund under this Act
department means the Inland Revenue Department
employee means an employee as defined in paragraph (a) of the definition of employee in section YA 1 of the Income Tax Act 2007
employer means an employer as defined in paragraphs (a) and (b) of the definition of employer in section YA 1 of the Income Tax Act 2007
extra emolument, in relation to any person, has the meaning given to extra pay in section YA 1 of the Income Tax Act 2007
gross income has the meaning given to income in section YA 1 of the Income Tax Act 2007
income-tested benefit means an income-tested benefit as defined in section YA 1 of the Income Tax Act 2007
interim repayment means any repayment required to be made in accordance with sections 26 to 28
IRD loan balance means the total amount outstanding under all loans—
and includes any increase under section 103
lender means Her Majesty the Queen in right of New Zealand and acting through and by the Minister who is, with the authority of the Prime Minister, for the time being responsible for the administration of the Social Security Act 1964
loan balance means the total amount outstanding under all loans obtained by the borrower under the student loan scheme, and includes any increase under section 103
loan contract means any loan agreement or contract entered into by the lender and the borrower under the student loan scheme
loan manager means any person who is appointed by the lender from time to time to establish and administer loan balances under the student loan scheme (other than any such loan balances that have been transferred to the Commissioner for collection)
loan year means a period of 12 months commencing on 1 January and ending with 31 December
net income means net income as defined in section YA 1 of the Income Tax Act 2007
New Zealand based has the meaning set out in subsection (2)
non-resident means a person who is not resident in New Zealand in terms of section YD 1 of the Income Tax Act 2007
overseas based has the meaning set out in subsection (3)
overseas based repayment obligation means a repayment obligation imposed under Part 3
PAYE intermediary means a PAYE intermediary as defined in section YA 1 of the Income Tax Act 2007
penal charge means a charge imposed under section 86
penal repayment obligation means an obligation imposed under section 85
periodic payer means a borrower who is obliged to make interim repayments in accordance with sections 26 to 28
primary employment earnings, in relation to an employee and to any pay period, means primary employment earnings as defined in section 3(1) of the Tax Administration Act 1994
repayment code means the repayment code specified in section 17B
repayment deduction means any amount required to be deducted from salary or wages in accordance with Part 2
repayment obligation, in respect of any tax year, means,—
repayment percentage means 10% or such other rate as may be determined by regulations made under section 87
repayment threshold means,—
resident means a person who is resident in New Zealand in terms of section YD 1 of the Income Tax Act 2007
residual repayment obligation has the meaning given to that term by section 26(2)
salary or wages, in relation to any person, means salary or wages as defined in section YA 1 of the Income Tax Act 2007, except that, in this Act, it includes extra emoluments
secondary employment earnings, in relation to an employee and to any pay period, means secondary employment earnings as defined in section 3(1) of the Tax Administration Act 1994
student loan scheme means the scheme established by the lender on 1 January 1992 to provide loan assistance to tertiary students; and includes the scheme so established as amended from time to time
tax year, in respect of the income of a person, means a tax year as defined in section YA 1 of the Income Tax Act 2007
terminal repayment obligation has the same meaning as in section 29(2)
total interest rate means the total interest rate that applies in respect of any tax year, calculated in accordance with the formula—
a% + 0.74% = y%
where—
- a%
- is the average, rounded to the nearest 2 decimal places, of the monthly average 10-year government bond yield rates published by the Reserve Bank of New Zealand for the 5 years ending in December in the year that precedes the relevant tax year
- y%
- rounded to the nearest 1 decimal place, is the total interest rate for the relevant tax year.
(2) For the purposes of this Act, a borrower is New Zealand based for each day on which that borrower is entitled to a full interest write-off under section 38AA.
(3) For the purposes of this Act, a borrower is overseas based for each day on which that borrower is not entitled to a full interest write-off under section 38AA.
Section 2(1) assessable income: repealed, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
Section 2(1) base interest rate: repealed, on 1 April 2008, by section 4(1) of the Student Loan Scheme Amendment Act 2007 (2007 No 13).
Section 2(1) challenge: inserted, on 1 October 1996, by section 2(1) of the Student Loan Scheme Amendment Act 1996 (1996 No 63).
Section 2(1) chief executive: inserted, on 19 September 2000, by section 3(1) of the Student Loan Scheme Amendment Act 2000 (2000 No 33).
Section 2(1) collection: inserted, on 15 December 2000 (applying in respect of the income year commencing on 1 April 2000, and subsequent income years), by section 4(1) of the Student Loan Scheme Amendment Act (No 2) 2000 (2000 No 96).
Section 2(1) Commissioner: amended, on 1 April 1995 (applying with respect to the tax on income derived in 1995–96 and subsequent income years), by section YB 1 of the Income Tax Act 1994 (1994 No 164).
Section 2(1) employee: amended, on 1 April 2008 (effective for 2008–09 income year and later income years, except when the context requires otherwise), by section ZA 2(1) of the Income Tax Act 2007 (2007 No 97).
Section 2(1) employee: amended, on 1 April 1995 (applying with respect to the tax on income derived in 1995–96 and subsequent income years), by section YB 1 of the Income Tax Act 1994 (1994 No 164).
Section 2(1) employer: amended, on 1 April 2008 (effective for 2008–09 income year and later income years, except when the context requires otherwise), by section ZA 2(1) of the Income Tax Act 2007 (2007 No 97).
Section 2(1) employer: amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
Section 2(1) extra emolument: substituted, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
Section 2(1) extra emolument: amended, on 1 April 2008 (effective for 2008–09 income year and later income years, except when the context requires otherwise), by section ZA 2(1) of the Income Tax Act 2007 (2007 No 97).
Section 2(1) gross income: substituted, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
Section 2(1) gross income: amended, on 1 April 2008 (effective for 2008–09 income year and later income years, except when the context requires otherwise), by section ZA 2(1) of the Income Tax Act 2007 (2007 No 97).
Section 2(1) income-tested benefit: amended, on 1 April 2008 (effective for 2008–09 income year and later income years, except when the context requires otherwise), by section ZA 2(1) of the Income Tax Act 2007 (2007 No 97).
Section 2(1) income year: repealed, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
Section 2(1) interest adjustment rate: repealed, on 1 April 2008, by section 4(1) of the Student Loan Scheme Amendment Act 2007 (2007 No 13).
Section 2(1) IRD loan balance: substituted, on 1 April 2007, by section 4(2) of the Student Loan Scheme Amendment Act 2007 (2007 No 13).
Section 2(1) lender: amended, on 19 September 2000, by section 3(2) of the Student Loan Scheme Amendment Act 2000 (2000 No 33).
Section 2(1) loan balance: amended, on 1 April 2007, by section 4(3) of the Student Loan Scheme Amendment Act 2007 (2007 No 13).
Section 2(1) net income: inserted, on 26 July 1996 (applying to the 1997–98 and subsequent income years), by section 484 of the Taxation (Core Provisions) Act 1996 (1996 No 67).
Section 2(1) net income: amended, on 1 April 2008 (effective for 2008–09 income year and later income years, except when the context requires otherwise), by section ZA 2(1) of the Income Tax Act 2007 (2007 No 97).
Section 2(1) New Zealand based: inserted, on 1 April 2007, by section 4(4) of the Student Loan Scheme Amendment Act 2007 (2007 No 13).
Section 2(1) non-resident: amended, on 1 April 2008 (effective for 2008–09 income year and later income years, except when the context requires otherwise), by section ZA 2(1) of the Income Tax Act 2007 (2007 No 97).
Section 2(1) non-resident repayment obligation: repealed, on 1 April 2007, by section 4(5) of the Student Loan Scheme Amendment Act 2007 (2007 No 13).
Section 2(1) overseas based: inserted, on 1 April 2007, by section 4(4) of the Student Loan Scheme Amendment Act 2007 (2007 No 13).
Section 2(1) overseas based repayment obligation: inserted, on 1 April 2007, by section 4(5) of the Student Loan Scheme Amendment Act 2007 (2007 No 13).
Section 2(1) PAYE intermediary: inserted, on 26 March 2003 (applying to obligations under the principal Act that arise on and after 1 April 2004), by section 4(1) of the Student Loan Scheme Amendment Act 2003 (2003 No 7).
Section 2(1) PAYE intermediary: amended, on 1 April 2008 (effective for 2008–09 income year and later income years, except when the context requires otherwise), by section ZA 2(1) of the Income Tax Act 2007 (2007 No 97).
Section 2(1) penal charge: amended, on 1 April 1993, by section 2 of the Student Loan Scheme Amendment Act 1993 (1993 No 12).
Section 2(1) penalty paragraph (b): amended, on 1 April 1995 (applying with respect to the tax on income derived in 1995–96 and subsequent income years), by section YB 1 of the Income Tax Act 1994 (1994 No 164).
Section 2(1) primary employment earnings: amended, on 1 April 2008 (effective for 2008–09 income year and later income years, except when the context requires otherwise), by section ZA 2(1) of the Income Tax Act 2007 (2007 No 97).
Section 2(1) repayment code: inserted, on 25 November 2003 (applying for pay periods ending on and after 25 November 2003), by section 4(1) of the Student Loan Scheme Amendment Act (No 2) 2003 (2003 No 124).
Section 2(1) repayment obligation: amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
Section 2(1) repayment obligation paragraph (a): amended, on 1 April 2007, by section 4(6)(a) of the Student Loan Scheme Amendment Act 2007 (2007 No 13).
Section 2(1) repayment obligation paragraph (a): amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
Section 2(1) repayment obligation paragraph (b): amended, on 1 April 2007, by section 4(6)(b) of the Student Loan Scheme Amendment Act 2007 (2007 No 13).
Section 2(1) repayment obligation paragraph (b): amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
Section 2(1) repayment threshold paragraph (a): amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
Section 2(1) repayment threshold paragraph (b): amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
Section 2(1) resident: amended, on 1 April 2008 (effective for 2008–09 income year and later income years, except when the context requires otherwise), by section ZA 2(1) of the Income Tax Act 2007 (2007 No 97).
Section 2(1) salary or wages: amended, on 1 April 2008 (effective for 2008–09 income year and later income years, except when the context requires otherwise), by section ZA 2(1) of the Income Tax Act 2007 (2007 No 97).
Section 2(1) secondary employment earnings: amended, on 1 April 2008 (effective for 2008–09 income year and later income years, except when the context requires otherwise), by section ZA 2(1) of the Income Tax Act 2007 (2007 No 97).
Section 2(1) tax year: inserted (with effect on 1 April 2005), on 21 June 2005, by section 161 of the Taxation (Base Maintenance and Miscellaneous Provisions) Act 2005 (2005 No 79).
Section 2(1) tax year: amended, on 1 April 2008 (effective for 2008–09 income year and later income years, except when the context requires otherwise), by section ZA 2(1) of the Income Tax Act 2007 (2007 No 97).
Section 2(1) total interest rate: substituted, on 1 April 2010, by section 4 of the Student Loan Scheme (Exemptions and Miscellaneous Provisions) Amendment Act 2010 (2010 No 3).
Section 2(2): added, on 1 April 2007, by section 4(8) of the Student Loan Scheme Amendment Act 2007 (2007 No 13).
Section 2(3): added, on 1 April 2007, by section 4(8) of the Student Loan Scheme Amendment Act 2007 (2007 No 13).