gic

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

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Don’t let a tax debt make your client call time-out

Whether your client is running a business or is just an individual trying to make ends meet, there is nothing worse for them than to find they have a tax debt owing to the ATO, which most likely will also be accruing a general interest charge and perhaps even a shortfall interest charge. The Australian

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