New Zealand Inland Revenue has announced changes in the use of money interest rates for underpayments and overpayments and the interest rate for employer-provided loans.
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Updates to rates for UOMI and FBT on low-interest loans
Two Orders in Council have been made updating the rates for use of money interest and also for the rate for calculating fringe benefit tax on employer-provided, low interest loans respectively.
The new underpayment rate for use of money interest is 9.21% (prev…