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 from 6.00% to 6.24% the rate of interest that applies for fringe benefit tax purposes to employment-related loans. The increase applies for the quarter beginning on 1 October 2010 and subsequent quarters.
Date of notification in Gazette: 2 September 2010.
These regulations are administered by the Inland Revenue Department.