Family Assistance (Present Value of Unpaid Amount – Interest Rate) Determination 2018 (Cth)

Family Assistance (Present Value of Unpaid Amount – Interest Rate) Determination 2018

I, Christian Porter, Minister for Social Services, make the following Determination.

Dated 18 December 2017

Christian Porter

Minister for Social Services

1            Name

This Determination is the Family Assistance (Present Value of Unpaid Amount – Interest Rate) Determination 2018.

2              Commencement

This Determination commences on 1 April 2017.

3              Authority

This Determination is made under subsection 100(6) of the A New Tax System (Family Assistance) (Administration) Act 1999.

4              Definition

In this Determination:

Act means the A New Tax System (Family Assistance) (Administration) Act 1999.

5              Annual interest rate

For the definition of interest in subsection 100(6) of the Act, the following is specified as the annual rate of interest:

(a)10% for the period 1 April 2017 to 28 February 2018; and

(b)5% from 1 March 2018.