Interest on early payments and overpayments of tax 2011-12

This fact sheet covers:

• entitlements to interest on early payments and overpayments of tax, and
• how to calculate your interest on an early payment.

Who is entitled to interest on early payments and overpayments?

The interest arrangements apply to individuals, taxable trusts, companies and superannuation funds.

Interest is only payable if it is 50 cents or more.

This fact sheet relates only to individuals and taxable trusts. It does not cover interest entitlements for companies, superannuation funds, corporate unit trusts and public trading trusts.