IR215 Section B—Student loan borrowers

9 Non-resident foreign-sourced income

If you’re a non-resident student loan borrower, but you’re considered to be physically present in New Zealand for student loan purposes, Inland Revenue need to know your foreign-sourced income at Question 9.

Example:

Sarah is a student loan borrower who earned $27,000 working overseas. Because Inland Revenue approved her application to be treated as physically present in New Zealand, Sarah must tell Inland Revenue about her overseas earnings

10 Distributions from a trust—not beneficiary income

If you received a distribution from a trust that wasn’t beneficiary income, and you are not the settlor of the trust, it generally counts as income for student loans. Include the distribution at Question 10.

Example:

Matt is a beneficiary of a family trust that has a cash PIE investment. He receives a $2,000 distribution which he doesn’t need to include in his tax return because the trust income was not taxable. Matt will have to include an adjustment for $2,000 for his student loan income by entering $2,000 at Question 10.

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