Interest Rates Effective 01 July 2022

The UOMI IRD charges has increased to 7.28%.
Interest rate that IRD pays remains at NIL.
FBT interest rate for employment related loans is 4.78%.

KILOMETRE RATE 2022 YEAR

Tier 1 rate $0.83 p/km for all vehicle types.
Tier 2 rate $0.31 p/km for petrol & diesel vehicles.
$0.18 p/km for petrol and hybrid vehicles.
$ 0.10 p/km for electric vehicles.

VARIATION TO TAX POOLING TRANSFERS COV22/15

Amendment has been made to clarify that the last date upon which a taxpayer can make a transfer request is 30 Sept 2022. See TIB Vol 34, No 4, May 22.

DEEMED RATE OF RETURN

For the 21/22 year has been set at 6.01% for purposes of EX 55(4)(b) and (6)(c). (FIF rules)

July 2022