Further reduction of FBT rate for low interest loans, 25 February 2016

The Income Tax (Fringe Benefit Tax, Interest on Loans) Amendment Regulations 2016 (LI 016/31) reduce, from 5.99% to 5.77%, the rate of interest that applies for fringe benefit purposes to employment-related loans. The reduction applies for the quarter beginning on 1 January 2016 and for subsequent quarters.