ATO Increase General Interest Charge (GIC)

The ATO has just announced an increas in their general interest charge (GIC) from 11.16 for the June 2010 quarter to 11.80% for the September 2010 quarter.

Note that the GIC compounding rate now extends to most taxes, including:

  • income tax
  • fringe benefits tax
  • goods and services tax
  • pay as you go.
For more details visit the ATO here.

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