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Showing 1 - 2 of 2 results for "General Interest Charge rate"

Payday Super penalties ramped up ahead of legislation

JAMIE WILLIAMSON  |  WEDNESDAY, 18 SEP 2024
... payment. It will now comprise: The SG shortfall Daily interest on the SG shortfall calculated at the general interest charge rate on a compounding basis (currently 11.36%) An additional levy to reflect the cost of enforcement, up to 60% of the SG shortfall ...

Punitive excess contributions tax removed

MARK SMITH  |  MONDAY, 9 MAR 2015
... rate. The investment earnings are calculated through a proxy earnings rate by applying the ATO's General Interest Charge rate to the excess non-concessional contribution. A 15% tax offset is then passed on to the superannuation fund member as compensation ...
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