Student loan scheme - volunteer exemption
2007 Order in Council lists organisations 'named' for the purpose of the Student Loan Scheme volunteer exemption.
The following organisations have been added to the list of organisations that are "named" for the purposes of section 38AE(1)(b) of the Student Loan Scheme Act 1992:
- Bright Hope International Trust
- Interserve (NZ)
- Mission Aviation Fellowship of New Zealand Incorporated
- National Spiritual Assembly of the Baha'is of New Zealand
- NET Ministries (National Evangelization Teams)
- OMF New Zealand
The effect of being "named" is that student loan borrowers working overseas as a volunteer, or for a token payment, for such an organisation may be granted an exemption, for a period of up to two years, from the requirement that they be present in New Zealand for 183 or more days to qualify for an interest-free loan.
Student loan borrowers seeking the exemption should contact their local Inland Revenue office.