Announcements
PUBLISHED 22 June 2009

FBT rates fall for low-interest loans

The prescribed rate used to calculate fringe benefit tax on low-interest, employment-related loans will fall from 8.05% to 6.41% from 1 July. For more information see the media release.


Hon Peter Dunne
Minister of Revenue

MEDIA STATEMENT

FBT rate for low-interest loans falls

The prescribed rate used to calculate fringe benefit tax on low-interest, employment-related loans will fall from 8.05% to 6.41% from 1 July, Revenue Minister Peter Dunne announced today.

The rate is reviewed regularly to align it with the results of the Reserve Bank's survey of variable first mortgage housing rates. The new lowered rate reflects recent survey figures, based on a 164 basis points fall in variable first mortgage housing interest rates since the rate was last adjusted in January this year.

The new rate was set by Order in Council today.

Media contact: Mark Stewart 021 243 6985