For 1992 and prior Income Tax Assessments, 1992 and prior Income Tax Instalments, and 1993 and prior Quarterly Provisional Tax (QPT) Instalments, the following ATLP rates apply:

Period Penalty per cent
Up to and including 13-2-83 10
14-2-83 to 30-9-92 20
1-10-92 to 30-6-98 16
1-7-98 to 30-6-99 13.5
1-7-99 onwards GIC applies

For 1993 and later Income Tax Assessments, 1993 and later Income Tax Instalments, and 1994 and later QPT Instalments, the following ATLP rates apply:

Period Penalty per cent Interest per cent Total per cent
1-7-92 - 31-12-92 8 10.6 18.6
1-1-93 - 30-6-93 8 9.6 17.6
1-7-93 - 31-12-93 8 9 17
1-1-94 - 30-6-94 8 8.7 16.7
1-7-94 - 31-12-94 8 8.7 16.7
1-1-95 - 30-6-95 8 10.8 18.8
1-7-95 - 31-12-95 8 12 20
1-1-96 - 30-6-96 8 11.5 19.5
1-7-96 - 31-12-96 8 11.5 19.5
1-1-97 - 30-6-97 8 10.5 18.5
1-7-97 - 31-12-97 8 9.8 17.8
1-1-98 - 30-6-98 8 8.8 16.8
1-7-98 - 31-12-98 (*) 4.7 (8) 8.8 (8.8) 13.5 (16.8)
1-1-99 - 30-6-99 (*) 4.7 (8) 8.8 (8.8) 13.5 (16.8)
1-7-99 onwards GIC applies GIC applies GIC applies

(*) Rate in brackets is the legislated rate.

The rate outside the brackets is the rate set by the ATO Commissioner's discretion.

The rates in the 'Interest' column include those prescribed by section 214A until the GIC was introduced. Therefore, this column also represents the rates at which interest under section 170AA would apply in respect of the 1993-2000 years of income.