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  • C – Loans granted

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    Item C is the number of loans you made that gave rise to taxable fringe benefits and the taxable value of those benefits.

    As a result, do not show the amount of the actual loans in the 'Gross taxable value (a)' column.

    Example: Calculate loan fringe benefits granted

    An employer lends an employee $20,000. The employer does not charge interest and the employee makes no repayments during the FBT year.

    Using the benchmark interest rate, the calculation is as follows:

    $20,000 x 7.4% = $1,480

    The employer shows this at item 23 as follows:

    Example of employer entry at item 23

    End of example
    Last modified: 23 Oct 2013QC 27133