Student Loan Scheme (Repayment Threshold) Regulations 2021

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2021/370

Coat of Arms of New Zealand

Student Loan Scheme (Repayment Threshold) Regulations 2021

Cindy Kiro, Governor-General

Order in Council

At Wellington this 15th day of November 2021

Present:
Her Excellency the Governor-General in Council

These regulations are made under section 215(a) of the Student Loan Scheme Act 2011 on the advice and with the consent of the Executive Council.

Regulations

1 Title

These regulations are the Student Loan Scheme (Repayment Threshold) Regulations 2021.

2 Commencement

These regulations come into force on 1 April 2022.

3 Annual repayment threshold

The amount of the annual repayment threshold for the tax year commencing on 1 April 2022 and subsequent tax years is $21,268.

4 Revocation

Rachel Hayward,
for Clerk of the Executive Council.

Explanatory note

This note is not part of the regulations, but is intended to indicate their general effect.

These regulations, which come into force on 1 April 2022, increase the annual repayment threshold for the purposes of the Student Loan Scheme Act 2011 from $20,280 to $21,268.

Issued under the authority of the Legislation Act 2019.

Date of notification in Gazette: 18 November 2021.

These regulations are administered by the Inland Revenue Department.