Skip to main content
Check out our new content, navigation and design for student loans.

People sometimes pay more than they need to on their student loan. This can happen if too much is deducted from your salary or wages, or if you have a deduction exemption but your employer accidentally makes deductions anyway. When this happens we call it a significant over-deduction. The threshold for significant over-deductions is $60 a month.

Use our PAYE/KiwiSaver deductions calculator to check if you’ve had the right amount deducted from your income.

PAYE/KiwiSaver calculator

You can pay too much in repayments if either:

  • your employer did not deduct the right amount
  • you did not use the right tax code for your job. 

If your deductions are more than they should be, talk to your employer. Check you are using the right tax code. If you need to change your tax code, give your employer a new Tax code declaration - IR330. Make sure you include the 'SL'.

Work out my tax code

Contact us and we will check:

  • the amount you overpaid is significant
  • you have no overdue amounts owing (arrears).

You will then have 6 months to ask us to either:

  • give you a refund
  • leave it on your loan account
  • pay another student loan obligation.