Rates of interest

​Market rate

​The market rate of interest for 1 July 2024 to 30 June 2025 is 4.36 per cent.

The market rate is designed to ensure that the State is not put at a disadvantage as a result of not receiving tax by the due date.

The market rate of interest is based on the 90-day Bank Accepted Bill Rate published by the Reserve Bank of Australia for the month of May preceding the start of each new financial year (Section 35(1)(a) of the Taxation Administration Act 1997).


Premium rate

​The premium rate of interest for 1 July 2024 to 30 June 2025 ​remains at 4.00 per cent (Section 35(4)(b) of the Taxation Administration Act 1997).

The premium rate is designed to encourage prompt payment of outstanding amounts once a tax default is identified, or from the time it reasonably should have been identified.

Revenue Ruling

Refer to PUB-GEN-2021-1 Interest and Penalty Tax for information about the circumstances when interest may be imposed or remitted.

Current and historical rates of interest

​ Period Market rate of interest Premium rate of interest Total rate of interest
​​1 July 2024 -
30 June 2025​
​4.36%
​4.00%
​8.36%
​1 July 2023 - 
30 June 2024​
​3.90%
​4.00%
​7.90%
​​1 July 2022 - 
30 June 2023​
1​.00%
​4.00%
​5.00%
​1 July 2021 - 
30 June 2022​
​0.04%
4.00%​
4.04%​
​1 July 2020 - 
30 June 2021
​0.10%
​8.00%
​8.10%
​​1 July 2019 -
30 June 2020
1.54%​

8.00%9.54%​
1 July 2018 -
30 June 2019
​1.96%
8.00%
​9.96%
1 July 2017 -
30 June 2018		1.73%8.00%9.73%
1 July 2016 -
30 June 2017		2.01%8.00%10.01%
1 July 2015 -
30 June 2016		2.15%8.00%10.15%
1 July 2014 -
30 June 2015		2.69%8.00%10.69%
1 July 2013 -
30 June 2014		2.82%8.00%10.82%
1 July 2012 -
30 June 2013		3.66%8.00%11.66%
1 July 2011 -
30 June 2012		5.00%8.00%13.00%
1 July 2010 -
30 June 2011		4.81%8.00%12.81%
1 December 2009 - 30 June 20103.13%8.00%11.13%
1 July 1998 -
30 November 2009		4.81%8.00%​12.81%

 

​
Back Home