Fringe Benefit Tax, Deemed Interest Rate and Low Interest Benefit

FRINGE BENEFIT TAX

For the purposes of Section 12B of the Income Tax Act, the Market Interest Rate is 13%.  This rate shall be applicable for the months of January, February and March 2025.

 

DEEMED INTEREST RATE

For purposes of Section 16(2)(ja) of the Income Tax Act, the prescribed rate of interest is 13%. This rate is applicable for the months of January, February and March 2025.

 

Withholding tax rate of 15% on the deemed interest shall be deducted and paid to the Commissioner within 5 working days.

 

LOW INTEREST BENEFIT

 

For purposes of section 5(2A) of the Income Tax Act, the prescribed rate of interest is 14%. This rate is applicable for the months of January, February, March, April, May and June 2025.

 

Commissioner for Domestic Taxes


PUBLIC NOTICES 17/01/2025


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Fringe Benefit Tax, Deemed Interest Rate and Low Interest Benefit