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
2000.
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