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  • Credit for interest on early payments calculator

    The credit for interest on early payments calculator will help you calculate your entitlement to a credit for interest on early payments of tax made from 1 July 2013 to 30 June 2023.

    On this page

    Before you use the calculator

    The calculator results are based on the information you provided at the time of calculation. You should use these results as an estimate and for guidance purposes only.

    From March 2022, any interest on early payments that you make from 1 July 2021 will:

    • calculate automatically
    • go directly into your nominated financial institution account, provided you do not have any existing debts with us.

    This calculator does not determine eligibility or calculate your entitlement to a credit for interest on overpayments of tax and delayed refunds. We will automatically calculate these amounts for you.

    Early payments

    You may qualify for interest on early payments if you paid us for certain tax debts and the payment was made more than 14 days before the due date.

    The following payments don't qualify for interest on early payments:

    • pay as you go (PAYG) withholding amounts including    
      • amounts withheld from interest, dividends and royalties
      • amounts withheld by payers (including those withheld for HELP, VETSL, SFSS, TSL, SSL or ABSTUDY SSL)
       
    • PAYG instalments.

    Who should use the calculator

    Only individuals and taxable trusts should use this calculator.

    Companies, superannuation funds, corporate unit trusts and public trading trusts should not use this calculator.

    You will need:

    • notification from us showing the date of the notices, the amounts owing and the due dates
    • details of your dates of payments, shown on your bank statement or receipt from the post office or us. Allow 3 extra days if you posted your payment.

    Access the calculator

    Our calculator will take between 2 and 5 minutes to use.

    Credit for interest on early payments calculator

    Last modified: 12 Dec 2022QC 18049