Annual deductions for someone paid on code ST 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
$20,000
$6,600
$350
$2,400
$10,650
46.8%
$40,000
$13,200
$700
$4,800
$21,300
46.8%
$60,000
$19,800
$1,050
$7,200
$31,950
46.8%
Source: IRD published 2026-27 tax brackets, ACC earner's levy 1.75%, student-loan rate 12% over $24,128. See full PAYE calculator for any income and pay period.
Who should use ST SL?
Use ST SL on your non-main job when your TOTAL annual PAYE income (all jobs, NZ Super and benefits) is $78,101 to $180,000 AND you have an NZ student loan. Deductions on this job: 33% income tax + 12% SL = 45% from the first dollar.
When to switch from ST SL
SH SLCombined income drops below $78,101.
SA SLCombined income rises above $180,000.
STStudent loan is paid off.
Common mistakes with ST SL
⚠This is the most common SL code for professional earners with a side consulting gig — typical Auckland/Wellington salary + freelance setup.
⚠As your student loan nears payoff, keep an eye on the balance in myIR so you can switch to the matching code without SL once it is cleared.
Does KiwiSaver reduce the pay that the 45% is worked out on?
KiwiSaver is calculated on gross pay but taken after PAYE has been worked out on the full gross amount, so it does not reduce your taxable income or your PAYE. The 12% SL is also worked out on the GROSS.
What if I'm over the $180k threshold for part of the year?
If you cross into $180k+ combined income mid-year, switch to SA SL from that point. IRD will reconcile over/under-payment via your year-end assessment.
