Document ID: chunk:federal_register_of_legislation:C2025C00180:section:8aad
Version: federal_register_of_legislation:C2025C00180
Segment Type: section
Provision Reference: s 8AAD
Character Range: 91203–91915

8AAD  What is the general interest charge rate?
 (1) The general interest charge rate for a day is the rate worked out by adding 7 percentage points to the base interest rate for that day, and dividing that total by the number of days in the calendar year.
 (2) The base interest rate for a day depends on which quarter of the year the day is in. For each day in a quarter in the second column of the table, it is the monthly average yield of 90‑day Bank Accepted Bills published by the Reserve Bank of Australia for the month in the third column of the table.

Base interest rate
Item                For days in this quarter...  the monthly average yield of 90‑day Bank Accepted Bills for this month applies...