Australia Tax Agency Issues General, Shortfall Interest Charge Rates for Q1 2024

The Australian Taxation Office Dec. 5 announced tax-deductible general interest charge (GIC) and shortfall interest charge (SIC) rates for Q1 of 2024. The Q1 GIC rates are: 1) 11.38 percent annually; and 2) 0.03109290 percent daily. The Q1 SIC rates are: 1) 7.38 percent annually; and 2) 0.02016393 percent daily. [Australia, Australian Taxation Office, 12/05/23]

Reference: View Updated General Interest Rates. View Updated Shortfall Interest Rates. View Index.