8.6 Fixed interest loans made before 1 July 1986
For this purpose, a fixed interest loan is one where the rate of interest can't be varied and that rate is specified in a document that existed at the time the loan was made.
Where a fixed interest loan was made before 1 July 1986, the statutory interest rate is the lesser of:
- the statutory interest rate that applies generally for the FBT year in which the value of the benefit is being determined, or
- the statutory interest rate specified in the table in section 8.4 as applying when the loan was taken out.