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  • Interest on early payments, overpayments of tax and on delayed refunds of a running balance account surplus 2018

    This fact sheet covers:

    • entitlements to interest on early payments and overpayments of tax and on delayed refund of a running balance account (RBA) surplus for individuals and taxable trusts only
    • how to calculate your interest on an early payment.

    For other types of entities please see:

    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 only relates to individuals and taxable trusts.

    What is the interest rate?

    The rate used in calculating your interest is set by law and is reviewed every quarter.

    Interest rates for 2017–18 are shown in the table.

    You can get details of other quarterly interest rates from us.

    Table: Interest rates used for calculation of early payments, overpayments and delayed refunds (2017–18)

    Period

    Interest rate
    (% pa)

    1 July 2017 to 30 September 2017

    1.73

    1 October 2017 to 31 December 2017

    1.70

    1 January 2018 to 31 March 2018

    1.72

    1 April 2018 to 30 June 2018

    1.77

      Last modified: 31 May 2018QC 55228