New Zealand only

When you process this type of deduction, if the employee has a tax code with student loan, such as "M SL", "S SL", "SH SL", "ST SL", a transaction is created as defined in the New Zealand tax schedule.

The student loan repayment threshold is hard-coded in this calculation method. It excludes the employee's first $19,084 (annual) or $367 (weekly) of earnings, and calculates the 12% student loan repayment on the earnings over the threshold.