new
Payroll
New Zealand (NZ)
New Zealand Student Loan Deduction Rate Override
You can now set a
custom student loan deduction rate
for NZ employees who have an IRD exemption.By default, the standard 12% rate applies. However, you can now override this rate to anywhere between
0% and 12%
.
How to configure this:
- Go to the employee's profile
- Navigate to their Payroll > Tax Declarationsection
- When a student loan tax code is selected, you'll see a new field to enter a custom deduction rate
- Enter the approved rate from the employee's IRD exemption
Once set, the adjusted deduction automatically flows through to payslips and IR filing.