As a student on an allowance, do I have to pay income tax on my contract work?
This is a questions many students will be wondering the answer to.
The answer is you have to pay tax on income that you earn, including contract work that you do for part of the year, according to advice from the Citizens Advice Bureau.
If the tax on your income is not deducted before you receive your pay, you will need to pay tax on your income at the end of the tax year.
Your student allowance is regarded as taxable income – and it’s worth noting that if you work while receiving a student allowance, your student allowance may be reduced depending on how much you earn at your job. So this will need to be included in your tax return.
Make sure you use the right information – speak to the Inland Revenue about tax codes and completing a tax return.
For more information, visit: www.cab.org.nz Email: firstname.lastname@example.org or call: 07 578 1592 and leave a message including email/telephone number; we will get back to you.