Interest on early payments and overpayments of tax 2019

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:

• Company tax return instructions
• Fund income tax return instructions
• Self-managed superannuation fund annual return instructions

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 2018-19 are shown in the table.

For information on current quarterly interest rates, see Interest on early payments, overpayments of tax and delayed refunds.

Table: Interest rates used for calculation of early payments, overpayments and delayed refunds (2018–19)

Period	Interest rate (% pa)
1 July 2018 – 30 September 2018	1.96
1 October 2018 – 31 December 2018	1.96
1 January 2019 – 31 March 2019	1.94
1 April 2019 – 30 June 2019	1.96

Interest rates for early payments, overpayments of tax and on delayed refunds for 2018–19.