ATO General Interest Charge Calculator

A helpful tool to estimate compound daily interest on unpaid invoices and tax debts using official ATO rates.

Overdue Amount Details

Calculation Results

How GIC is Calculated

The General Interest Charge is calculated daily and compounds on unpaid amounts. The rates change quarterly and are set by the ATO. Interest is calculated on the outstanding balance each day until the debt is paid in full.

Note: This calculator uses the official ATO rates and follows the compound daily calculation method as specified in Section 8AAD of the Taxation Administration Act 1953.

Disclaimer

This tool provides an estimate only as different agencies may apply different rates to contractual calculations based on public holidays or other specifics. Consult your contract or the relevant agency for exact figures. The Department of Finance also offers a procurement interest calculator worth consulting.