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The taxable value of a low interest loan is the difference between the actual interest on the loan and what the interest would be if this was calculated at the prescribed rate or the market rate. Market rate may only be used by banks and financial institutions that have elected to use that rate.

Before you start

You will need the:

  • employee’s name
  • actual interest rate % charged
  • actual interest
  • loan balance.

To keep track of the FBT on multiple loans you can also add details such as the relevant quarter and the year the loan was granted.

Enter the information into a calculator

You can use myIR to calculate the loan's taxable value.

Log in to myIR

Or use one of the calculators. You'll need to select low-interest loans from the drop down and copy those details into your return..

7 minutes
Fringe benefit tax annual calculator

Use this calculator to work out FBT on all benefits provided when you file annual FBT returns.

Go to this tool
7 minutes
Fringe benefit tax quarterly calculator

Use this calculator to work out FBT on all benefits provided when you file quarterly FBT returns.

Go to this tool
7 minutes
Fringe benefit tax income year calculator

Use this calculator to work out FBT on all benefits provided when you file income year FBT returns.

Go to this tool

Copy the results into your FBT return

Last updated: 29 Oct 2020
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