News

​​​​​Market Rate of Interest for 2020-21

Released 28 June 2020​​

The market rate of interest for the 2020-21 financial year decreases to 0.10 per cent.

The rate is based on the 90-day Bank Accepted Bill Rate published by the Reserve Bank of Australia for the month of May preceding the new financial year.

Interest is imposed to:

  1. compensate the Tasmanian Government for being denied the use of revenue; and
  2. promote equity among taxpayers by ensuring that those who meet their obligations are not disadvantaged compared with those who do not.

The Market Rate of Interest is discussed in the Revenue Ruling on Interest and Penalty Tax for tax defaults, published by the Commissioner for State Revenue.​

​​Land Tax Search fee and Duties Administration fee for 2020-21

Released 28 Ju​​ne​ 2020​

From 1 July 2020, the fee for issuing a Land Tax Search certificate will remain at $12.15. Refer here for more information about ​Land Tax Search.

From 1 July 2020, the State Revenue Office Duties Administration fee for processing optional Duties Instruments remain at $40.50.​

The increases occur as at 1 July each year in line with the CPI adjustment factor provided for under section 5 of the Fee Units Act 1997​.
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Motor Dealer’s Exemption Certificate fee for 2020-21

Released 28 June 2020

From 1 July 2020, the application fee for a new Motor Dealer’s Exemption Certificate will remain unchanged $570.24. 
Refer here for more information about Exemption Certificates.

 

From 1 July 2020, the renewal fee for a Motor Dealer’s Exemption Certificate will ramain unchanged at $508.68.

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