Australia Taxation Office (ATO): GIC rates
We have received a number of inquiries from clients about General Interest Charge (GIC) which the ATO charges for failing to meet tax obligations.
As part of our investigation, we discovered that the GIC has now climbed to 11.15% per annum which is nearing its 2008 high of 14.75% per annum.
Bottom line, pay your tax and on time.
If you have family, friends or colleagues that want financial advice please ask them to contact us and we will work out how best to help.