Loans - Interest-free or low-interest
You have to include in income any benefit that a person receives as a result of an interest-free or low-interest loan because of an office, employment, or shareholding.
The benefit is the amount of interest that the person would have paid on the loan for the year at the prescribed interest rates minus the amount of interest that they paid on the loan in the year, or no later than 30 days after the end of the year.
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