The ATO has released the June 2014 quarter rates for the General Interest Charge (GIC) and the Shortfall Interest Charge (SIC) as follows:
|GIC annual rate||9.63%|
|GIC daily rate||0.02638356%|
|SIC annual rate||5.63%|
|SIC daily rate||0.01542466%|
Also, the Interest rate on Overpayments, Interest rate on Early Payments and Delayed Refunds Interest rate is 2.63%.
* * * Disclaimer: The information is sourced from NTAA. * * *
Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their circumstances.