Income tax: what is the benchmark interest rate applicable for the year of income commencing on 1 July 1998 for the purposes of Division 7A of Part III of the Income Tax Assessment Act 1936 ('the Act')?
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FOI status:may be releasedFOI number: I 1017743
1. For the year of income commencing 1 July 1998, the benchmark interest rate for the purposes of sections 109N and 109E of the Act is 6.7% per annum.
2. The benchmark interest rate for the year of income commencing 1 July 1998 is relevant for loans made, or deemed to have been made, between 4 December 1997 and 30 June 1998.
Commissioner of Taxation
28 October 1998
Not previously issued in draft form
NO NAT 98/10780-1
private company distributions
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|4 May 2016||Withdrawn|