Territory Revenue Office

Interest and penalties

Interest and penalties play an important role in tax administration by:

  • deterring non-compliance by making it unprofitable to taxpayers
  • promoting equity among taxpayers by ensuring that those who meet their obligations are not disadvantaged in comparison with those who do not
  • compensating the government for being denied the use of funds that it is entitled to.

Read the Commissioner’s guideline on taxes and stamp duty (190.5 kb).

Read the Commissioner's guideline on home assistance schemes including the first home owner grant (190.5 kb).

Interest rates for the current and previous four financial years are detailed below.

Financial year Premium rate Market rateTotal
July 2019 to June 20208%1.54%9.54%
July 2018 to June 20198%1.96%9.96%
July 2017 to June 2018 8% 1.73% 9.73%
July 2016 to June 2017 8% 2.01% 10.01%
July 2015 to June 2016 8% 2.15% 10.15%
July 2014 to June 2015 8% 2.69% 10.69%
July 2013 to June 2014 8% 2.82% 10.82%

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Last updated: 20 June 2019

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