The Tax Office has advised that the General Interest Charge (GIC) and Shortfall Interest Charge (SIC) rates for the 4th quarter of the 2013-14 financial year (ie 1 April 2014 to 30 June 2014) are as follows:
- GIC annual rate is 9.63%;
- GIC daily compounding rate is 0.02638356%;
- SIC annual rate is 5.63%; and
- SIC daily compounding rate is 0.01542466%.
[LTN 44, 6/3/14]