The Tax Office has advised that the General Interest Charge (GIC) and Shortfall Interest Charge (SIC) rates for the 3rd quarter of the 2014-15 financial year (ie 1 January 2015 to 31 March 2015) are as follows:
- GIC annual rate is 9.75% [‘base rate’ of 2.75% + 7%];
- GIC daily compounding rate is 0.02671233%;
- SIC annual rate is 5.75% [‘base rate’ of 2.75% + 3%]; and
- SIC daily compounding rate is 0.01575342%.
[LTN 237, 8/12/14]