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Credit for interest on early payments calculatorOur calculator takes between 2 and 5 minutes to use.
What you can do with this calculator
The credit for interest on early payments calculator will help you calculate your entitlement to a credit for Interest on early payments (IEP) of tax made from 1 July 2013 to 31 March 2025.
The results of this calculator are based on the information you provide. You should use these results as an estimate and for guidance purposes only.
In March 2022, we automated the calculation and payment of interest on early payments entitlements for eligible early payments on amounts paid from 1 July 2021. We pay IEP directly to your nominated financial institution account, unless you have an existing tax debt with us.
This calculator doesn’t determine eligibility or calculate your entitlement to a credit for interest on overpayments of tax and delayed refunds. We will automatically calculate these amounts for you.
Early payments
You may qualify for interest on early payments if you pay us for certain tax debts and the payment is made more than 14 days before the due date.
The following payments don't qualify for interest on early payments:
- pay as you go (PAYG) withholding amounts including
- amounts withheld from interest, dividends and royalties
- amounts withheld by payers (including those withheld for HELP, VETSL, SFSS, AASL (formerly TSL), SSL or ABSTUDY SSL)
- PAYG instalments.
What you will need
You will need the following to use this calculator:
- Notification from us showing the date of the notices, the amounts owing and the due dates.
- Your dates of payments, you can find these details on your bank statement, receipt from the post office or us.
If you post us your payment, use a payment date 3 working days after the date you posted that payment.
Limitations
Only individuals and taxable trusts should use this calculator.
Companies, superannuation funds, corporate unit trusts and public trading trusts should not use this calculator.