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ATO Publishes Quarterly General Interest Charge Rates and Shortfall Interest Charge Rates for First Quarter of 2021-22 — Orbitax Tax News & Alerts

The Australian Taxation Office (ATO) has published the general interest charge (GIC) rates and shortfall interest charge (SIC) rates for the first quarter of the 2021-22 income year. For the quarter beginning 1 July 2021, the GIC rate annual rate is 7.04% and the SIC annual rate is 3.04%. The rates are up slightly from the annual rates for the prior quarter beginning 1 April 2021, which are 7.01% and 3.01% for GIC and SIC, respectively.

Click the following links for the GIC rate tables and the SIC rate tables, which also provide the daily rates and the historical rates going back to the 1999-2000 income year for GIC and back to the 2004-05 income year for SIC.

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