FBT - prescribed rate of interest
1 June 2000 Media Statement
FBT - prescribed rate of
The rate used to calculate fringe benefit tax
for low interest employment-related loans has been increased
in line with market rates.
The new rate, which will apply
from the quarter beginning 1 July 2000, will be 8.1 percent,
up from 7.59 percent.
The rate is reviewed regularly to
ensure it is in line with the Reserve Bank survey of first
mortgage housing rates. It was last adjusted for the
quarter beginning 1 April 2000.
The rate was changed by
Order in Council on 29 May
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New Reports: Flood Risk From Rain And Sea Under Climate Change
One report looks at what would happen when rivers are flooded by heavy rain and storms, while the other examines flooding exposure in coastal and harbour areas and how that might change with sea-level rise.
Their findings show that across the country almost 700,000 people and 411,516 buildings worth $135 billion are presently exposed to river flooding in the event of extreme weather events...
There is near certainty that the sea will rise 20-30 cm by 2040. By the end of the century, depending on whether global greenhouse gas emissions are reduced, it could rise by between 0.5 to 1.1 m, which could add an additional 116,000 people exposed to extreme coastal storm flooding. More>>