The Australian Taxation Office has published the general interest charge (GIC) rates and shortfall interest charge (SIC) rates for the first and second quarters of the 2020-21 income year. For the quarters beginning 1 July and 1 October 2020, the GIC rate annual rate is 7.10% and the SIC annual rate is 3.10%. This is down from the annual rates for the prior quarter beginning 1 April 2020, which were 7.89% and 3.89% for GIC and SIC, respectively.
Click the following links for the GIC rate ta…