why has student loan amount changed

charlottexray
2 Posts
User

why has student loan amount changed

An employee of ours works a consistent 40 hour week and pay rate has not changed. Therefore his deductions should remain consistent? He has had a student loan deduction of 90.36 every week until two weeks ago when the student loan deduction changed by 12 cents to 90.24. Is there an explanation for this?

1 REPLY
MYOB Moderator Steven_M
19,819 Posts
MYOB Moderator
New Zealand

Re: why has student loan amount changed

Hi @charlottexray


From the 1st April 2017 the current repayment threshold for Student Loan increased slightly to $19,136 from $19,084. Thus there will be a difference in the calculation used for Student Loan, as you have indicated it is likely to be a small amount i.e. a couple of cents.


Kind Regards,
Steven
MYOB Client Support
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