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MissCandice 
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Joined: 01 January 2007
Location: Christchurch
Points: 3836
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 Topic: Sudent Loans
Posted: 05 May 2008 at 5:32pm |
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How are these paid back?
Is there a minimum you have to pay?
Does it go by what you earn, no matte your bills or do they count that into it?
Thanks in advance guys..
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~ Mummy to a beautiful girl ~
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Mama2two
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Joined: 01 January 1900
Location: Whangaparaoa
Points: 2835
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Posted: 05 May 2008 at 5:40pm |
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These are paid back directly out of your wages. You just have to change your tax code to MSL.
The amount they take is 10cents for every dollar you earn over a certain amount (I think it is around $17k). They don't care about bills or anything, it is the standard amount for everybody.
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MissCandice
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Joined: 01 January 2007
Location: Christchurch
Points: 3836
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Posted: 05 May 2008 at 5:44pm |
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Is it before or after tax the every dollar?
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~ Mummy to a beautiful girl ~
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mummy_becks
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Posted: 05 May 2008 at 6:13pm |
IRD will have all those answers for you as they get your student loan at the end of the financial year.
Once you earn over close to $18K you have to be on MSL and it is taken out of your wages/salery automaticly.
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I was a puree feeder, forward facing, cot sleeping, pram pushing kind of Mum... and my kids survived!
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MissCandice
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Location: Christchurch
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Posted: 05 May 2008 at 7:01pm |
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Its for my DF. Heshas a student loan since 2004 and hasnt paid a cent so has been getting a 2% penalty every month! Im making him sort it now.. We just want to work out what we are going to have to pay.
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~ Mummy to a beautiful girl ~
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mummy_becks
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Posted: 05 May 2008 at 7:20pm |
On the IRD website it'll say what the tax rate will be. I think from memory its 28% on MSL.
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I was a puree feeder, forward facing, cot sleeping, pram pushing kind of Mum... and my kids survived!
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busymum
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Location: New Zealand
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Posted: 05 May 2008 at 8:58pm |
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Calculated off your gross income, you can do a PAYE calculator on the www.ird.govt.nz website, it's easy to use
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Sudent Loans
