This TD released on Wed 27.6.2012, states that, for the income year that commenced on 1 July 2011, the benchmark interest rate for the purposes of ss 109N and 109E of the ITAA 1936 is 7.05% (down from 7.80% per annum for 2011-12).
[LTN 122, 27/6]
Author: John Morgan
http://www.FJMtax.comJohn Morgan is a tax specialist lawyer of more than three decades experience now practicing at the Victorian Bar - w: www.FJMtax.com e: f.john.morgan@vicbar.com.au