why has student loan amount changed

2 Posts

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?

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,
MYOB Client Support
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