Fringe Benefit Tax
Basic FBT Rates
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
- 2023-2024 FBT rate 49.25% (or 63.93% for certain employees) of FBT value (Income Tax Deductible)
- 2022-2023 FBT rate 49.25% (or 63.93% for certain employees) of FBT value (Income Tax Deductible)
- 2021-2022 FBT rate 49.25% (or 63.93% for certain employees) of FBT value (Income Tax Deductible)
- 2020-2021 FBT rate 42.86% (or 49.25% for certain employees) of FBT value (Income Tax Deductible)
- 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 2023 - 8.41%
- 01/04/23 to 30/09/23 - 7.89%
- 01/01/23 to 31/03/23 - 6.71%
- 01/07/22 to 31/12/22 - 4.78%
- 01/07/20 to 30/06/22 - 4.50%
- 01/10/19 to 30/06/20 - 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, Prescribed interest rates for fringe benefit tax (FBT)
