Making additional repayments to your education loan

Making <a href="" class="broken_link"></a> additional repayments to your education loan

You could make additional repayments to your loan whenever you want, even though you make beneath the payment limit. You may make these re payments to us your self or perhaps you can pose a question to your company in order to make additional deductions from your earnings.

What is on these pages

Making repayments that are extra

You possibly can make repayments that are extra us in several various ways. The simplest and fastest means is to help make a payment online with:

  • Internet banking
  • Credit or debit card, or
  • Cash transfers from offshore.

You may also make re re payments:

When you create a repayment to us make certain you write to us:

  • It is for the education loan, and
  • Your title, target and IRD quantity.

If you should be in Australia

You can easily put up PayWay direct debit to make regular repayments from your own Australian banking account. These re re payments is going to be in Australian bucks and then we’ll protect the money transformation price. Contact us clear of Australia on 1800 559 653 to create your payWay up direct debit.

Debit and credit card re re payments

If you should be an overseas-based debtor you will not be charged a charge. Nevertheless, brand New Zealand-based borrowers will be charged a 1.42per cent charge.

Making repayments that are extra your company

If you’d like to make additional repayments using your company, tell them simply how much additional you wish to spend. They will deliver us the amount that is extra along with your standard deductions every month.

Them know if you decide to stop making extra repayments, or want to change the amount, just let.

You are able to monitor these repayments during your myIR protected on line Services account.

Than you need to on your student loan if you repay more

If you have paid back your loan in complete, and paid more than you had a need to, you can easily:

  • Spend another taxation billAsk us to move your overpayment to pay for another taxation quantity – we are going to refund any leftover total you.
  • Be given a reimbursementwe are going to refund your overpayment if you don’t possess a tax bill that is overdue. Your reimbursement will soon be direct credited to your bank that is nominated account.

In case the loan is not paid back in complete along with no overdue repayments, you are able to:

  • Keep the total amount on your own loan which means that your stability is paid down
  • Place it towards a payment you’ve got approaching
  • Spend another goverment tax bill
  • Demand a reimbursement according to your position.

Forward us a safe mail through your myIR protected on line Services account and tell us what you would like to accomplish.

Asking for a refund based on your circumstances

If you should be asking for a reimbursement and do not have an overdue amount, have a look at these situations to see which one pertains to you:

  • When you have a brand new end-of-year that is zealand-based obligationYou can request a reimbursement associated with overpayment within 6 months to be notified.
  • In the event that you earn money from wage or wages and you also’ve made additional repaymentsYou can request a reimbursement of this additional repayments within half a year of this end associated with the taxation 12 months.
  • For those who have a significant over-deductionYou can request a reimbursement associated with over-deduction within 6 months to be notified.
  • If you should be overseas-based and also you’ve overpaidYou can request a reimbursement within half a year for the final deadline for your payment responsibility for the income tax 12 months you’ve overpa