The Guides to Social Policy Law is a collection of publications designed to assist decision makers administering social policy law. The information contained in this publication is intended only as a guide to relevant legislation/policy. The information is accurate as at the date listed at the bottom of the page, but may be subject to change. To discuss individual circumstances please contact Services Australia.

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 …
1 January to 31 Marchthe preceding November
1 April to 30 Junethe preceding February
1 July to 30 Septemberthe preceding May
1 October to 31 Decemberthe preceding August

Act reference: Taxation Administration Act 1953 Part IIA The general interest charge, section 8AAD(2) What is the general interest charge rate?

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