INDEPENDENT NEWS

FBT Rate For Low Interest Loans Up

Published: Tue 20 Aug 2002 11:05 AM
20 August 2002
FBT Rate For Low Interest Loans Up
The prescribed rate of interest used to calculate fringe benefit tax for low-interest, employment-related loans will increase on 1 October from 7.5 percent to 7.98 percent, Revenue Minister Michael Cullen announced today.
The rate, which last changed on 1 July this year, is reviewed regularly to align it with the results of the Reserve Bank’s survey of first mortgage rates.
Ends

Next in New Zealand politics

Just 1 In 6 Oppose ‘Three Strikes’ - Poll
By: Family First New Zealand
Budget Blunder Shows Nicola Willis Could Cut Recovery Funding
By: New Zealand Labour Party
Urgent Changes To System Through First RMA Amendment Bill
By: New Zealand Government
Global Military Spending Increase Threatens Humanity And The Planet
By: Peace Movement Aotearoa
Government To Introduce Revised Three Strikes Law
By: New Zealand Government
Environmental Protection Vital, Not ‘Onerous’
By: New Zealand Labour Party
View as: DESKTOP | MOBILE © Scoop Media