NZ Tax Code SH SL
Secondary job + student loan (combined $53,501–$78,100) (2025-26).
Take-home on SH SL — 2025-26 IRD rates
Annual deductions for someone paid on code SH SL. Numbers below include income tax, ACC earner's levy, and student loan (where applicable). KiwiSaver is not included — add your chosen rate on top.
| Annual gross | Income tax (PAYE) | ACC levy | Student loan | Take-home | Effective rate |
|---|---|---|---|---|---|
| $10,000 | $3,000 | $167 | $1,200 | $5,633 | 43.7% |
| $20,000 | $6,000 | $334 | $2,400 | $11,266 | 43.7% |
| $30,000 | $9,000 | $501 | $3,600 | $16,899 | 43.7% |
Source: IRD published 2025-26 tax brackets (effective from 31 Jul 2024 full year), ACC earner's levy 1.67%, student-loan rate 12% over $24,128. See full PAYE calculator for any income and pay period.
Who should use SH SL?
Use SH SL on your non-main job when your TOTAL annual income from all jobs is $53,501 to $78,100 AND you have an NZ student loan. Deductions on this job: 30% income tax + 12% SL = 42% from the first dollar.
When to switch from SH SL
- S SL Combined income drops below $53,501.
- ST SL Combined income rises above $78,100.
- SH Student loan is paid off.
Common mistakes with SH SL
- ⚠42% all-in is the highest effective deduction for most dual-job NZ workers. On a $20k secondary job, about $8,400 goes to IRD immediately.
- ⚠If your primary job straddles the $53,501 threshold, check whether any of your secondary income should be at 33% instead of 30% — request an STC via IR23BS if so.
Unsure this is the right code? Use our tax-code checker wizard (5 questions), or jump to the full PAYE calculator for any income and pay period.
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Frequently asked questions
Is 42% the real rate after ACC and KiwiSaver?
No — 42% is income tax + SL only. ACC earner's levy (1.67%, capped) and KiwiSaver (3%/4%/6%/8%/10% optional) are deducted on top. All-in deductions for an ACC-paying, KiwiSaver-3%-contributing SH SL worker can reach ~47%.
Can I stop SL deduction on my secondary job only?
Only via an IRD-approved Special Deduction Rate (SDR). Without one, every SL-coded job deducts 12% from the first dollar on that job.