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Go to: Payroll menu > Employee Details > select employee.
From 1 April 2012, there are two new Student Loan repayment codes for voluntary or additional deductions.
SLCIR = (Commissioner deduction)
This is used when the Inland Revenue Department has made a decision to recover a significant under deduction.
This is to be used in addition with the employees regular Student Loan code and will need to be deducted at the percentage rate advised on the notification.
SLBOR = (Borrower deduction)
These deductions will be at the request of the borrower and will be in addition to the standard deductions. They can be a fixed dollar amount or a percentage of their income for the week.
Please note that an employee can have one or both deductions.
To accommodate the above changes, there are three new fields on the Employee Details window:
Either the SLBOR % field or the SLBOR amount field can be used. If you enter a % then the amount will be cleared and if you enter an amount, the percentage field will be cleared.
If an employee is setup for SLCIR or SLBOR loan repayments this will be included in the calculation on the Pay Run window. The existing field for Student Loan repayments will incorporate the TOTAL student loan repayments for that pay, that is, normal loan repayment amount + SLCIR amount + SLBOR amount. The SLCIR and SLBOR amounts are stored in the database but are not visible as separate fields. They are used in the EMS file.
The EMS file has been modified to include an extra line for SLCIR and an extra line for SLBOR amounts if they exist. The normal line will include the NORMAL student loan amount, that is, the amount without SLCIR and SLBOR included.
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