A common issue that we deal with is the confusion between residency for income tax and student loan purposes. Generally speaking, it is more difficult to become a non-New Zealand resident for income tax purposes, than it is for student loan debt. They are separate issues. If you have moved overseas, and you are still a New Zealand income tax resident, this does not necessarily mean that you are a New Zealand student loan debt resident. This issue is a common one for Australian resident New Zealand student loan debtors.
If you have moved overseas there are exemptions that can allow you to be treated as a New Zealand resident for student loan purposes even though you are not physically in New Zealand. If you can gain this status it can mean that some or all of the interest will be removed from the debt and the relevant payment will be calculated based on your income as if you were still living in New Zealand. The benefit can be significant.
In most cases we can quickly tell you whether you might qualify or not, without needing to involve the IRD, however, we can also discuss the situation with the IRD if we have your permission.
If you have moved overseas there are exemptions that can allow you to be treated as a New Zealand resident for student loan purposes even though you are not physically in New Zealand. If you can gain this status it can mean that some or all of the interest will be removed from the debt and the relevant payment will be calculated based on your income as if you were still living in New Zealand. The benefit can be significant.
In most cases we can quickly tell you whether you might qualify or not, without needing to involve the IRD, however, we can also discuss the situation with the IRD if we have your permission.