When we pay interest on early payments and overpayments
We pay interest on certain early payments, overpayments of tax and where there is a delay in refunding amounts from a running balance account.
The interest rate arrangements apply to individuals, taxable trusts, companies and superannuation funds.
Interest is only payable if it is 50c or more.
We pay interest where:
- you make an early payment
- you overpay tax
- there is a delay in paying your refund.
Interest rates for 2022–23
The rate we use in calculating your interest is set by law and is reviewed every quarter.
For information on current quarterly interest rates, see Credit interest rates and calculation.
|
Period |
Interest rate |
|---|---|
|
1 July 2022 to 30 September 2022 |
1.00 |
|
1 October 2022 to 31 December 2022 |
2.31 |
|
1 January 2023 to 31 March 2023 |
3.06 |
|
1 April 2023 to 30 June 2023 |
3.46 |