Interest and penalty tax

Late or non-payment of duties and taxes may result in interest being charged on the outstanding amount.  Further information about interest is available in Revenue Circular GEN009.1.

The following table lists the interest type and rates for overdue debts, deferred debts and refunds administered by the ACT Revenue Office.

Overdue Debts for: Duty return taxes, FHOG and Utilities (Network) Facilities Tax, Energy Industry Levy

Simple daily interest

1 July 2017 to
31 December 2017

9.73%

1 January 2017 to
30 June 2017

9.76%

Overdue debts for rates, land tax, land rent, fire & emergency services levy, city centre marketing and improvements levy.

Compound monthly interest

eg. 16 July to 15 August

1 July 2017 to
31 December 2017

9.73%

1 January 2017 to
30 June 2017

9.76%

Deferred rates and duty

Simple daily interest

1 July 2017 to
31 December 2017

1.73%

1 January 2017 to
30 June 2017

1.76%

Refunds from overpayments
(interest may apply)

Simple daily interest

1 July 2017 to
31 December 2017

1.73%

1 January 2017 to
30 June 2017

1.76%

Period

Overdue Duty return taxes, FHOG and Utilities (Network) Facilities Tax, Energy Industry Levy

Overdue Rates, Land Tax, Land Rent, Fire & Emergency Services Levy, City Centre Levy

Deferred Rates and Duty

Refunds from overpayments (interest may apply)

Interest Type

simple daily

compound monthly e.g. 16 July to 15 August

simple daily

simple daily

Amount Type

overdue debts

overdue debts

deferred debts

overpayment

1 July 2016 - 31 December 2016

10.01%

10.01%

2.01%

2.01%

1 January - 30 June 2016

10.22%

10.22%

2.22%

2.22%

1 July - 31 December 2015

10.15%

10.15%

2.15%

2.15%

1 January - 30 June 2015

10.75%

10.75%

2.75%

2.75%

1 July - 31 December 2014

10.69%

10.69%

2.69%

2.69%

1 January - 30 June 2014

10.59%

10.59%

2.59%

2.59%

1 July - 31 December 2013

10.82%

10.82%

2.82%

2.82%

1 January - 30 June 2013

11.24%

11.24%

3.24%

3.24%

1 July -31 December 2012

11.66%

11.66%

3.66%

3.66%

1 January - 30 June 2012

12.62%

12.62%

4.62%

4.62%

1 July -31 December 2011

13.00%

13.00%

5.00%

5.00%

1 January -30 June 2011

13.02%

13.02%

5.02%

5.02%

1 July -31 December 2010

12.80%

12.80%

4.80%

4.80%

1 January -30 June 2010

11.95%

11.95%

3.95%

3.95%

1 July -31 December 2009

11.13%

11.13%

3.13%

3.13%

1 January -30 June 2009

12.76%

12.76%

4.76%

4.76%

1 July -31 December 2008

15.75%

15.75%

7.75%

7.75%

1 January - 30 June 2008

15.15%

15.15%

7.15%

7.15%

1 July -31 December 2007

14.37%

14.37%

6.37%

6.37%

1 January - 30 June 2007

14.37%

14.37%

6.37%

6.37%

1 July -31 December 2006

13.87%

13.87%

5.87%

5.87%

1 January - 30 June 2006

13.63%

13.63%

5.63%

5.63%

1 July - 31 December 2005

13.68%

13.68%

5.68%

5.68%

1 January -30 June 2005

13.43%

13.43%

5.43%

5.43%

1 July -31 December 2004

13.51%

13.51%

5.51%

5.51%

1 January - 30 June 2004

13.31%

13.31%

5.31%

5.31%

1 July -31 December 2003

12.78%

12.78%

4.78%

4.78%

1 January - 30 June 2003

12.84%

12.84%

4.84%

4.84%

Penalty tax

Penalty tax is imposed where a taxpayer fails to meet certain obligations.  This includes the underpayment, late payment or failure to pay tax.

The penalty tax rate imposed ranges from 25 per cent to 90 per cent of the tax payable depending on the level of culpability.

Penalty tax may be reduced if you make a voluntary disclosure before the commencement of an investigation.  We encourage you to voluntarily disclose any discrepancies you discover.  If you obstruct or hinder an investigation, penalty tax may be increased.

Additional information on penalties can be found: