New legislation - 2010: Orders in Council (2010)
Rise in FBT rate for low-interest loans
The prescribed rate used to calculate fringe benefit tax on low-interest, employment-related loans has risen to 6.24%, up from the 6.00% rate which has applied since 1 July 2010.
The rate will apply from 1 October 2010.
The rate is reviewed regularly to align it with the results of the Reserve Bank's survey of first home mortgage interest rates.
The new rate was set by Order in Council on 30 August 2010.
Income Tax (Fringe Benefit Tax, Interest on Loans) Amendment Regulations 2010
Use our Fringe benefit tax on low interest loans calculator.
Other pages in: Orders in Council (2010)
- Use-of-money interest rates change
- Minimum family tax credit income amount increased
- Remission of use-of-money interest for Canterbury earthquake victims
- FBT rate for low-interest loans
- FIF deemed rate of return set for 2009-10
- KiwiSaver first home subsidy
- Parental leave and employment protection - changes to advisor status
- Student loan scheme - volunteer exemption
Date published: 01 Oct 2010
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