Skip to Content
MenuClose

myIR, payments and more


Work it out
Ngā tātaitai

Fringe benefit tax on low interest loans

Calculation sheet

About this calculator

Use this calculator to generate a schedule of low interest loans.

Use of this tool does not result in data being submitted to us.

When to use this calculator

Use this to calculate the difference between the actual amount of interest on the loan and the interest calculated using the prescribed rate or market rate.

What you will need

Before you can use this calculator, for each employee with a low interest loan you will need to calculate:

  • the amount of interest that would be charged at the prescribed rate on the daily balance
  • the actual interest charged based on loan amounts drawn down and repaid, and interest charged throughout the period
  • the amount of interest that would be charged at the market rate on the daily balance.

Note

Market rate calculation can only be used by lending and financial institutions. All other employers must calculate the amount of interest at the prescribed rate and the actual interest charged based on loan amounts drawn down and repaid, and interest charged throughout the period.

After you finish

The result will generate a printable schedule for you to print and keep with your FBT records; Inland Revenue's website does not store any of the data that you enter. 

For best results set your printer to landscape (horizontal) format.

No information you provide while using the calculator is recorded, saved or in any way referenced by Inland Revenue. The calculator is stored on a secure part of our website to prevent unauthorised interception. If you are unable to access the calculator, you may need to update your browser and/or firewall settings.