Income Tax (Fringe Benefit Tax, Interest on Loans) Amendment Regulations 2014
The prescribed rate of interest used to calculate fringe benefit tax on low-interest, employment-related loans has been set at 6.13% from 1 Jul 2014.
The prescribed rate of interest used to calculate fringe benefit tax on low-interest, employment-related loans is 6.13%, up from the previous rate of 5.90% which applied from the quarter beginning 1 April 2011.
The new rate applies from the quarter beginning 1 July 2014. 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 29 May 2014.
Income Tax (Fringe Benefit Tax, Interest on Loans) Amendment Regulations 2014 (SR 2014/183)