The IRD has sent us an IR23 Special Tax Code Certificate asking to deduct student
loan at 12 cents in the dollar. How do we do this?
Use the SL STC code if you receive an IR23 Special Tax Code Certificate asking to deduct student loan at a set rate.
When producing printed and electronic employer monthly schedules this code is shown as 'STC' but internally Ace Payroll shows it as 'SL STC' to provide a little more information about the tax code.
From the Employee Modification Personnel
screen, click the employee tax code. Then from the following screen click Other Codes
Click over SL STC as circled
Enter the percentage specified by the IRD on their IR23 certificate
Updated: 11th September 2008 Published: 10th August 2005
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Tax changes on 1st October 2008
Student loan special tax codes