GIC and SIC rates change

The ATO has advised that the general interest charge (GIC) rate and shortfall interest charge (SIC) rate, for the April-June quarter of the 2017-18 income tax year, are as follows: GIC and SIC rates change

GIC annual rate is 8.77%GIC daily compounding rate is 0.02402740%.SIC annual rate is 4.77%SIC daily compounding rate is 0.01306849%.

# [ATO], [gic], [sic], [tax]