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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.

    Therefore, 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 6.45% = $1,290

    The employer shows this at item 23 as follows:

    39720_14

    End of example
    Last modified: 16 May 2014QC 39720