National Accountants
  • Home Page
    • Quick Guide to Business Profitability
    • About our Services
    • Important Tax Points to Consider
  • About Us
  • Our Services
  • Contacts
  • Accounting Software
    • MYOB Software >
      • MYOB Essentials
      • MYOB AccountRight Live
      • MYOB AccountRight Premier and Enterprise
      • MYOB AccountEdge
      • MYOB Cashbook
      • MYOB Payroll
      • MYOB Retail Basics and Manager
    • Xero Software
  • Key Dates
  • Facts on Tax
  • Publications
  • Document Portal
  • Tax Management NZ
  • Audit Insurance
  • AML
  • Newsletters
  • Useful Links
  • Blog
Call: 09 415-7518

Fringe Benefit Tax


Basic FBT Rates
  • 2019-2020 FBT rate 42.86% (or 49.25% for certain employees) of FBT value (Income Tax Deductible)
  • 2018-2019 FBT rate 42.86% (or 49.25% for certain employees) of FBT value (Income Tax Deductible)
  • 2017-2018 FBT rate 42.86% (or 49.25% for certain employees) of FBT value (Income Tax Deductible)
  • 2016-2017 FBT rate 42.86% (or 49.25% for certain employees) of FBT value (Income Tax Deductible)
  • 2015-2016 FBT rate 42.86% (or 49.25% for certain employees) of FBT value (Income Tax Deductible)
  • 2014-2015 FBT rate 42.86% (or 49.25% for certain employees) of FBT value (Income Tax Deductible)
  • 2012-2013 FBT rate 42.86% (or 49.25% for certain employees) of FBT value (Income Tax Deductible)
  • 2011-2012 FBT rate 42.86% (or 49.25% for certain employees) of FBT value (Income Tax Deductible)
  • 2010-2011 FBT Rate 45.99% (or 55.04% for certain employees) of FBT value (Income Tax Deductible)
  • 2009-2010 FBT Rate 49% (or 61% for certain employees) of FBT value (Income Tax Deductible)
  • Return Period Quarterly or Annually

​FBT Value of Motor Vehicles:
When calculating the taxable value for motor vehicles, you will need to use either the actual cost price, or the tax book value. From 1 April 2006 the FBT value of the benefit when using cost price reduced from 24% to 20% (or from 6% to 5% if FBT is paid quarterly).

From the 2017-2018 income year close companies will be able to elect not to pay FBT on newly purchased shareholder-employee vehicles and instead apportion vehicle expenses between business and personal use.

Low or Interest Free Loans:


Benchmark Interest Rates 
  • From 1 October 2019 - 5.26%
  • 01/01/16 to 30/09/19 - 5.77%
  • 01/10/15 to 31/12/15- 5.99%
  • 01/07/15 to 30/09/15 - 6.22%
  • 01/10/14 to 30/06/15 - 6.70%
  • 01/07/14 to 30/09/14 - 6.13%
  • 01/10/13 to 30/06/14 - 5.90%
  • 01/04/13 to 30/09/13 - 5.90%
  • 01/04/12 to 31/03/13 - 5.90%
  • 01/04/11 to 31/03/12 - 5.90%
  • 01/10/10 to 31/03/11 - 6.24%
  • 01/10/09 to 30/09/10 - 6.00%
  • 01/07/09 to 30/09/09 - 6.41%
  • 01/01/09 to 30/06/09 - 8.05%
  • 01/10/08 to 31/12/08 - 10.90%
  • 01/04/08 to 30/09/08 - 10.57%
  • Once the prescribed interest rate is set, it applies to all future quarters until it is altered. It is review-able quarterly.
  • For the most recent rates, check the IRD website

Picture


Back to Facts on Tax

Location

Contact Us

National Accountants Ltd.
Unit B2, Lucas 18 
18 Oteha Valley Rd Ext

Albany
Auckland, New Zealand

PO Box 300 114
Albany 0752

Phone: 09 415-7518

Fax: 09 415-7511
Terms of Trade │ Terms of Use │ Privacy Statement │ Blog │ Site Map
© Copyright 2016-2020 National Accountants Ltd. All Rights Reserved.