The rate used in calculating your interest is set by law and is reviewed every quarter.
Interest rates for 2011-12 are shown in the table below.
Details of other quarterly interest rates are available from the ATO.
TABLE: Interest rates used for calculation of early payments, overpayments and delayed refunds (2011-12)
Period |
Interest rate |
|---|---|
1 July 2011 to 30 September 2011 |
5.00 |
1 October 2011 to 31 December 2011 |
4.86 |
1 January 2012 to 31 March 2012 |
4.62 |
1 April 2012 to 30 June 2012 |
4.37 |