FIRSTMATE BLOG: CAPTAINS LOG

FBT rate for low-interest loans increases6.06.2014

The prescribed interest rate used to calculate fringe benefit tax on low-interest loans provided by employers will increase from 5.90% to 6.13% from 1 July 2014.

The Income Tax (Fringe Benefit Tax, Interest on Loans) Amendment Regulations 2014 (LI 2014/183), which came into force on 29 May 2014, their date of notification in the New Zealand Gazette, amend the Income Tax (Fringe Benefit Tax, Interest on Loans) Regulations 1995.

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