SR 2015/200
Issued
2015

Income Tax (Fringe Benefit Tax, Interest on Loans) Amendment Regulations 2015

The prescribed rate of interest used to calculate fringe benefit tax on low-interest, employment-related loans has been set at 6.22% and applies from 1 Jul 2015.

The prescribed rate of interest used to calculate fringe benefit tax on low-interest, employment-related loans is 6.22%, down from the previous rate of 6.70% which applied from the quarter beginning 1 October 2014.

The new rate applies for the quarter beginning 1 July 2015. The rate is reviewed regularly to align it with the results of the Reserve Bank's survey of variable first-mortgage housing rates.

The new rate was set by Order in Council on 24 August 2015.

Income Tax (Fringe Benefit Tax, Interest on Loans) Amendment Regulations 2015 (SR 2015/200)