The ATO has advised that the General Interest Charge (GIC) and Shortfall Interest Charge (SIC) rates for the first quarter of the 2020-21 income tax year are as follows – for the period 1 Jul 2020 to 30 September 2020.

See below for further detail.

[Tax Month – June 2020]

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About the author

John Morgan

John Morgan is a tax specialist lawyer of more than three decades experience now practicing at the Victorian Bar - w: www.FJMtax.com e: f.john.morgan@vicbar.com.au