GIC and SIC rates change
The ATO has advised that the general interest charge (GIC) rate and shortfall interest charge (SIC) rate, for the April-June quarter of the 2017-18 income tax year, are as follows: GIC and SIC rates change
- GIC annual rate is 8.77%
- GIC daily compounding rate is 0.02402740%.
- SIC annual rate is 4.77%
- SIC daily compounding rate is 0.01306849%.
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%.
