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FBT for low-interest loans down

Tuesday, 19 November 2002, 8:55 am
Press Release: New Zealand Government


FBT for low-interest loans down

The prescribed rate to calculate fringe benefit tax for low-interest, employment-related loans has dropped from 7.98 percent to 7.83 percent, Revenue Minister Michael Cullen announced today.

The new rate applies from l October 2002.

The rate is reviewed regularly to ensure it is in line with the results of the Reserve Bank's regular survey of first mortgage interest rates.


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