New Zealand Acts

STUDENT LOAN SCHEME ACT 2011 - SECT 76

76 Commissioner to assess borrower's end-of-year repayment obligation

1 The Commissioner must assess the amount (if any) of a borrower’s end-of-year repayment obligation for a tax year as soon as practicable after the borrower provides a statement of adjusted net income.

2 In making the assessment, the Commissioner may have regard to—

a) any document provided under subsection (1) :

b) any other information that the Commissioner considers to be relevant.

3 The assessment must be made in accordance with this subpart and the loan contract.

4 Section 203 applies if there is an inconsistency between this subpart and the loan contract.

5 The Commissioner must, as soon as practicable after making the assessment, notify the borrower in writing of—

a) the borrower's end-of-year repayment obligation; and

b) the due dates, if any, on or before which the end-of-year repayment obligation must be paid (see sections 81, 84, and 85 ); and

c) the amounts, if any, that must be paid on or before those due dates.

Note: 1992 No 141 s 15

History: Section 76: replaced (with effect on 1 April 2012 and applying for 2012–13 and later tax years), on 29 March 2013, by section 14 of the Student Loan Scheme Amendment Act 2013 (2013 No 10).   Section 76(1): replaced, on 14 May 2016, by section 13 of the Taxation (Residential Land Withholding Tax, GST on Online Services, and Student Loans) Act 2016 (2016 No 21).