The Australian Taxation Office (ATO) has announced the general interest charge (GIC) rates and shortfall interest charge (SIC) rates for the third quarter of the 2023-24 income year.
For the quarter commencing on 1 January 2024, the GIC annual rate is 11.38%, and the SIC annual rate is 7.38%.
On 12 September 2023, the ATO published the shortfall interest charge (SIC) rates and general interest charge (GIC) rates for October – December 2023.
The rates are an increase from the annual rates of the previous quarter beginning 1 October 2023, where the GIC annual rate was 11.15%, and the SIC annual rate was 7.15%.
| Quarter | GIC annual rate | SIC annual rate |
| January – March 2024 | 11.38% | 7.38% |
| October – December 2023 | 11.15% | 7.15% |
