Student Loan Voluntary Repayments SLBOR


My employee wants to pay back more than the minimum student loan and has asked me to increase the amount I deduct each week. How does Ace Payroll do this?

  • It is quite normal for an employee to want to pay back more student loan than the standard student loan tax codes require.
  • Do this by setting up an SLBOR deduction.
  • This can be done from within Calculate Pays or from the Modify Employee screens.

From Calculate Pays click Options.

If the employee has a student loan tax code there are additional options as circled.


Select Voluntary from the above screen, then enter the required amount in the screen below.


  • Once a regular deduction is set up, everything follows automatically.
  • There is nothing extra to do each pay.
  • The voluntary student loan deduction is itemised in relevant IRD returns, meaning the employee receives full benefit from early repayment such as any excess repayment bonus.
  • Note that no communication with the IRD is required for an employee to pay back more student loan than the minimum required.

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