FBT For Low-Interest Loans Up
21 May 2002
The prescribed rate of interest used to
calculate fringe benefit tax for low-interest,
employment-related loans has increased from 6.7 percent to
7.5 percent, Revenue Minister Michael Cullen announced
The new rate applies from l July 2002.
is reviewed regularly to ensure it is in line with the
results of the Reserve Bank's regular survey of first
mortgage interest rates. It last changed on 1 January.
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Gordon Campbell: On Another Reason To Loathe HR Departments (And On The Teachers Strike)
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