Newsletter
July 2010 Newsletter
GIC and SIC Rates Released
The Tax Office has advised that the general interest charge and shortfall interest charge rates for the first quarter of the 2010/11 financial year (ie 1 July 2010 – 30 September 2010) are as follows:
Rate Annual (%) Daily (%)
GIC 11.80 0.03232877
SIC 7.80 0.02136986
The Tax Office has also released the interest rate for overpayments, early payments and delays in refund for the first quarter of the 2010/11 income year. The applicable interest rate is 4.80%.