why has student loan amount changed

This thread is now archived and closed to new comments.
Some of the links provided in this thread may no longer be available or relevant.
If you have a question please post a new topic.
charlottexray
2 Posts
User
charlottexray

2Posts

0Kudos

0Solutions

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
20,846 Posts
MYOB Moderator
New Zealand
Steven_M
MYOB Moderator

20846Posts

2315Kudos

2906Solutions

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
Didn't find your answer here?
Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post