Income Tax (Fringe Benefit Tax, Interest on Loans) Amendment Regulations (No 2) 2005

2005/132

Income Tax (Fringe Benefit Tax, Interest on Loans) Amendment Regulations (No 2) 2005


Note

These regulations are administered in the Inland Revenue Department.


Pursuant to section ND 1F of the Income Tax Act 2004, Her Excellency the Governor-General, acting on the advice and with the consent of the Executive Council, makes the following regulations.

1 Title
2 Commencement
  • These regulations come into force on the day after the date of their notification in the Gazette.

3 Schedule 1 amended
  • Schedule 1 of the principal regulations is amended by adding the following item:

    Quarter commencing 1 July 2005, and subsequent quarters9.01

Martin Bell,

Acting for Clerk of the Executive Council.

Explanatory note

This note is not part of the regulations, but is intended to indicate their general effect.

These regulations, which come into force on the day after the date, of their notification in the Gazette, amend the Income Tax (Fringe Benefit Tax, Interest on Loans) Regulations 1995. They increase the rate of interest that applies for fringe benefit tax purposes to employment-related loans from 8.76% to 9.01% for the quarter commencing on 1 July 2005 and for subsequent quarters.


Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notification in Gazette: 26 May 2005.


  • 1 SR 1995/41