Interest on early payments and overpayments of tax 2020

We pay interest on certain early payments, overpayments of tax and where there is a delay in refunding amounts from a running balance account. These are the interest rates applicable for the 2019–20 income year.

On this page

• When we pay interest on early payments and overpayments
• Interest rates for 2019–20

When we pay interest on early payments and overpayments

Warning:

This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

End of attention

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

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

We pay interest where:

• you make an early payment
• you overpay tax
• the is a delay in paying your refund.

Interest rates for 2019–20

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.