The Tax Office has advised that the General Interest Charge (GIC) and Shortfall Interest Charge (SIC) rates for the 1st quarter of the 2013-14 financial year (ie 1 July 2013 to 30 September 2013) are as follows:
- GIC annual rate is 9.82%;
- GIC daily compounding rate is 0.02690411%;
- SIC annual rate is 5.82%; and
- SIC daily compounding rate is 0.01594520%.
[LTN 109, 6/6/13]