25 Mar 15 FBT: Benchmark interest rate 2015-2016 – TD 2015/8
On 25 March 2015 the ATO issued taxation determination TD 2015/8 entitled “Fringe benefits tax: what is the benchmark interest rate to be used for the fringe benefits tax year commencing on 1 April 2015?”
The benchmark interest rate for the FBT year commencing on 1 April 2015 is 5.65% per annum. This rate replaces the rate of 5.95% that has applied for the previous FBT year commencing on 1 April 2014.
The rate is used to calculate the taxable value of a fringe benefit provided by way of a loan and a car fringe benefit where an employer chooses to value the benefit using the operating cost method.