GIC set at and SIC rates – for Q3, 2017-18 (Jan – Mar 2018) set at 8.72% pa and 4.72% pa, respectively

The ATO has released the General Interest Charge (GIC) and Shortfall interest charge (SIC) rates for the third quarter of 2017-18 covering Jan- March 2018. They are:

• GIC annual rate – 8.72%
• GIC daily rate – 0.02389041%.
• SIC annual rate – 4.72%.
• SIC daily rate – 0.01293151%.

[ATO website: GIC, SIC; LTN 233, 5/12/17; Tax Month Dec 2017]