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Thread ID: 121314	2011-10-20 09:15:00	Student Loan Paid Off now IRD Owes me Money	Bobh (5192)	PC World Chat

Post ID	Timestamp	Content	User
1238779	2011-10-20 09:15:00	It appears that my student loan has been paid off and IRD now owe me money. I have tried to find out how you go about stopping Employer deductions. I believe that it could be a simple matter of filling out a form and hey presto deductions stop. I have tried to find the answer on the IRD site. There is plenty of information about how to pay off the student loan faster but I have already paid my loan off. Has anybody who has been through the process of stopping student loan employer deductions know what the simple answer is?	Bobh (5192)
1238780	2011-10-20 09:24:00	change tax code? From m sl to m. Eg.	Nomad (952)
1238781	2011-10-20 09:37:00	change tax code? From m sl to m. Eg. Thanks that gave me the clue I wanted. I believe I found the answer here (www.ird.govt.nz).	Bobh (5192)
1238782	2011-10-20 11:46:00	Funny, they'd be first to tell you if you weren't paying it, but pay too much, and they don't want to know you...	Agent_24 (57)
1238783	2011-10-20 17:41:00	Funny, they'd be first to tell you if you weren't paying it, but pay too much, and they don't want to know you... No they do. I put mine on the mortgage and paid IRD in full. Got the letter stating $0.00 balance. 11 years later they tell me I'd been overcharged and I had um, something like $1500 owing to me. Just takes them a while see...........	pctek (84)
1238784	2011-10-20 17:47:00	11 years later they tell me I'd been overcharged and I had um, something like $1500 owing to me. Sounds like a rip off. What was the difference in the value of that 1500$ when you overpaid vs 11 years later when they told ya?	Cato (6936)
1238785	2011-10-20 18:04:00	Sheesh, based on how IRD works you should have about $1M from them in penalty payments and loss of your working capital, interest etc. If things had been the other way around they'd be after your blood. After 11 years your $1500 should be worth double, or to put it another way, they've enjoyed your cash all this time and are repaying you half of what it was worth when they took it from you. If you loaned someone money to buy a car, and they used that car for 11 years, then 'repaid' you by giving you that now well-used car you'd feel ripped off. Hell, if you owed IRD money and filed a return that stated zero owed they'd acuse you of falsifying the return and penalise you. They sent you their own calculations saying they owed you zero. They were wrong, but you are still effectively being penalised. Double standards... IRD is effectively a dictatorship.	Paul.Cov (425)
1238786	2011-10-21 02:39:00	IRD do pay credit interest on money - but it's pretty pathetic...	johcar (6283)
1238787	2011-10-21 02:57:00	Sounds like a rip off. What was the difference in the value of that 1500$ when you overpaid vs 11 years later when they told ya? Hah. I didn't over pay. I obtained a statement showing the exact amount, paid that exact amount and then they decide then it was more? I didn't believe them ,made them produce stuff to show where that was meant to have come from. They, in the end, decided it was overcharged interest on the short time before I paid the lot. I still don't believe them, I bet in another 11 years, they'll claim that was an error and want ti back.	pctek (84)
1238788	2011-10-21 09:15:00	IRD do pay credit interest on money - but it's pretty pathetic... Not the best place to invest your money if you want a good return. :D	Bobh (5192)
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