FBT rate for low-interest loans up
24 August 2004 Media Statement
FBT rate for low-interest
The prescribed rate used to calculate fringe
benefit tax on low interest, employment-related loans will
rise from 7.50 percent to 8.02 percent from 1 October 2004,
Revenue Minister Michael Cullen announced today.
is reviewed regularly in line with the results of the
Reserve Bank’s survey of first mortgage rates. It was last
changed with effect from 1 July 2004.
The change was
approved by Order in Council
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