At last some good news out of Inland Revenue.
Fringe Benefit Tax (FBT)
The FBT rate for low-interest loans will fall from 8.05% to 6.41% from 1 July 2009.
This has come about due to the continuing effort to try and align the rate with the variable first mortgage housing rate. Bluntly, it was not fair to have the FBT rate above that being charged by the banks.
Use of Money Interest (UOMI)
Use-of-money interest rates charged by the Inland Revenue on unpaid tax have been lowered from 9.73% to 8.91%. The interest rate paid on overpayments of tax paid reduce from 4.23% to 1.82%. Regretfully, there still remains a large gap between the two.
Please contact us if you would like help to understand how these changes affect you personally and your business - if applicable.
GRA are a one stop shop for property investment resources. Really liked the examples and case studies in Property School - adds a lot of credibility. - Brenda Muller, June 2019
Investing in residential property?
If you're investing in residential property, seeking to maximise your ability to succeed and minimise risk, then this is a 'must read'.
Matthew Gilligan provides a fresh look at residential property investment from an experienced investor’s viewpoint. Written in easy to understand language and including many case studies, Matthew explains the ins and outs of successful property investment.