• Estimated general interest charge - calculation details

    This screen allows you to view calculation details of an estimated general interest charge (GIC) transaction.

    The amount calculated is an estimate only and based on account transactions processed to the time of this request. The estimate may be affected by subsequent transactions being applied to the account.

    Estimated general interest charge calculation details

    Each row reflects either a change in the amount on which GIC is calculated or a change in the interest rate over the period for which GIC has been calculated.

    Screen fields:

     

    Date from

    The start date of a GIC calculation interval.

    Date to

    The end date of a GIC calculation interval.

    Interest rate %

    The GIC interest rate which applies to the calculation interval (GIC rates are reviewed quarterly).

    Days

    The number of days within the calculation interval including the ‘Date from’ and ‘Date to’.

    Calculate on

    The amount on which the calculation is based. It is the total amount due for payment during a calculation interval.

    Calculated general interest charge

    The GIC amount calculated for the interval.


     

     

    GIC is calculated on a daily compounding basis.

    Total estimated general interest charge

    The total estimated amount. It will be the sum of the calculation intervals.

    Payments

    Select payment options from the left hand menu for information about how to make a payment and print a payment slip.

    Account queries

    If you would like more information about an account send us a message via ‘Mail’ located on the left navigation bar.

    Back to top

Relying on our information - our commitment to you

We are committed to providing you with advice and guidance you can rely on, so we make every effort to ensure that what we give you is correct.

If you follow our advice or guidance and it turns out to be incorrect, or it is misleading and you make a mistake as a result, we will take that into account when determining what action, if any, we should take.

Some of the advice and guidance on this website applies to a specific financial year. This is clearly marked. Make sure you have the information for the right year before making decisions based on that information.

If you feel that our advice and guidance does not fully cover your circumstances, or you are unsure how it applies to you, contact us or seek professional advice.

Copyright

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).