1.1.B.10 Base interest rate
Definition
Base interest rate is the monthly average yield of the 90‑day Bank Accepted Bills published by the Reserve Bank of Australia.
Base interest rate for a day depends on which quarter of the year the day is in, as set out in the table below.
For each day in this quarter … | the base interest rate is the monthly average yield of 90-day Bank Accepted Bills published by the Reserve Bank of Australia for … |
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1 January to 31 March | the preceding November |
1 April to 30 June | the preceding February |
1 July to 30 September | the preceding May |
1 October to 31 December | the preceding August |
Act reference: Taxation Administration Act 1953 Part IIA The general interest charge, section 8AAD(2) What is the general interest charge rate?