IRD plans to replicate Australian student loan success in UK, officials tell MPs

Wed, 09 Nov 2016

By Sophie Boot Nov. 9 (BusinessDesk) - Inland Revenue says it's in talks with foreign tax departments including the UK's HM Revenue & Customs as it steps up efforts to recover money owed by overseas-based student loan borrowers. Kiwis living overseas accounted for more than 90 percent of the $1.07 billion in overdue repayments to the Student Loan Scheme as at June 30. Some $15.34 billion is owed under the scheme by 731,754 borrowers, of which overseas borrowers owe 21 percent, or $3.24 billion by 110,739. Earlier this month, IRD said a...

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