GIC and SIC rates change

The ATO has advised that the general interest charge (GIC) rate, shortfall interest charge (SIC) and related rates, for the second quarter of the 2017-18 income tax year (October to December 2017 inclusive) are as follows: GIC and SIC rates change

  • GIC annual rate is 8.70%
  • GIC daily compounding rate is 0.02383562%.
  • SIC annual rate is 4.70%
  • SIC daily compounding rate is 0.01287671%.

 

The ATO has advised that the general interest charge (GIC) rate, shortfall interest charge (SIC) and related rates, for the first quarter of the 2016-17 income tax year (1 July 2016 to 30 September 2016) are as follows:

GIC rate is 9.01% (90 day BAB rate 2.01% + 7% uplift factor)

GIC daily compounding rate is 0.02461749%.

SIC rate is 5.01% (90 day BAB rate 2.01% + 3% uplift factor)

SIC daily compounding rate is 0.01368852%.

IOP, IEP and DRI rate is 2.01%.

 September 2016) are as follows:

GIC rate is 9.01% (90 day BAB rate 2.01% + 7% uplift factor)

GIC daily compounding rate is 0.02461749%.

SIC rate is 5.01% (90 day BAB rate 2.01% + 3% uplift factor)

SIC daily compounding rate is 0.01368852%.

IOP, IEP and DRI rate is 2.01%.

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