Student Loan (SL) repayments come in a bewildering variety of forms, however, all catered for by SmoothPay:
- SL tax codes (note that SL may not be calculated if the employee doesn't earn enough as they much reach a weekly threshold)
- SL tax code with NO SL to be deducted - we recommend using the base tax code as this qualification is simply bizarre
- STC tax code with special rates of tax (incl ACC levy if any) and/or SL (if any) - also in the employee's Tax Settings
- SLCIR ordering the employer to deduct additional SL until the amount in arrears is paid (or until a new order is issued) - you can find this in [Tax..SLCIR]
- SLBOR where the employee wishes to make voluntary additional SL payments until stopped or an amount is paid off - you can find this in [Tax..SLBOR]
Do not add student loan repayments as you would a deduction - these payments have special significance for IRD schedule reporting and must be set up as provided for in SmoothPay.