On 4 March 2024, the Australian Taxation Office (ATO) announced the general interest charge (GIC) rates and shortfall interest charge (SIC) rates for the fourth quarter of the 2023-24 income year. For the quarter commencing on 1 March 2024, the GIC annual rate is 11.34%, and the SIC annual rate is 7.34%. The rates are lower than the annual rates of the previous quarter beginning 1 January 2024, where the GIC annual rate was 11.38%, and the SIC annual rate was 7.38%.
Quarter | GIC annual rate | SIC annual rate |
April – June 2024 | 11.34% | 7.34% |
January – March 2024 | 11.38% | 7.38% |