News

​Market Rate of Interest for 2021-22

Released 1 July 2021​​

The market rate of interest for the 2021-22 financial year decreases to 0.04 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.​


Premium Rate of Interest for 2021-22

Released 1 July 2021​​

The premium rate of interest for 2021-22​ financial year decreases to 4.00 per cent.​

The Premium 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 and Duties Administration fees for 2021-22

Released 1 July 2021

Fee for issuing a Land Tax certificate
From 1 July 2021, the fee for issuing the certificate is $12.37. 
Refer here for more information about ​Land Tax Search.

Administration fee for the SRO to process optional duties instruments

From 1 July 2021, the processing fee is $41.25.​
Any fee unit adjustments 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 2021-22

Released 1 July 2021

Fee for NEW Motor Dealer's Exemption Certificate

From 1 July 2021, the fee increases from $570.24 to $580.80.


Fee for RENEWAL of Motor Dealer's Exemption Certificate​

From 1 July 2021, the renewal fee increases from $508.68 to $518.10. 


Refer here for more information about Exemption Certificates.
 



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