New Zealand Acts

STUDENT LOAN SCHEME ACT 2011 - SECT 114

114 Notification of Schedule 3 adjustments by New Zealand-based non-resident borrowers

1 This section applies to a New Zealand-based borrower who is a non-resident and who has Schedule 3 adjustments.

2 For each tax year and each part of a tax year to which this section applies to a borrower, the borrower must notify the Commissioner of the Schedule 3 adjustments.

3 The borrower must notify the Commissioner of the Schedule 3 adjustments under this section—

a) at the time when, if the borrower were a New Zealand resident, he or she would have had to notify the Commissioner of the Schedule 3 adjustments under section 74(2)(a) to (c) ; or

b) no later than the time at which the borrower makes an application under section 25 to be treated as being physically in New Zealand, if the borrower is subject to clause 11 of Schedule 1 and the Schedule 3 adjustments relate to the current tax year or any past tax year.

4 The Commissioner may require the borrower to provide evidence of the Schedule 3 adjustments.

History: Section 114: replaced, on 14 May 2016, by section 17 of the Taxation (Residential Land Withholding Tax, GST on Online Services, and Student Loans) Act 2016 (2016 No 21).   Section 114(3): replaced, on 1 April 2020, by section 66 of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 (2020 No 5).