Student Loan Deductions
Student Loan Deductions
Some employees may have student loans and this guide provides detailed information on how deduct student loan payments from salaries and wages.
What the current student loan repayment rate is
How you can administer an employee’s student load deductions
The tax requirements of employees who have a student loan and the exceptions
What is required from you as an employer
The consequences for you and your employees for any failure in respect of student loan
deductions
The student loan repayment rate is 12%.
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