Record keeping for low interest loans

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Employing staff Dates

FEB 5

Employer deductions payment due for 16 to 31 January for large employers.
FEB 7

Your FBT income year return and payment are due if you have a March balance date and no extension of time.
FEB 20

Employer deductions payment due for 1 to 15 February for large employers.

All Employing staff dates

Your records for low-interest loans must show the:

date the loan started
name of the employee receiving the loan
description of the loan
amount of interest charged
prescribed or market rate of interest.

Employer provided low-interest loans

Prescribed interest rates for fringe benefit tax

Work out the taxable value of a low-interest loan