Collection interest
Collection interest is compensation for the interest that the water board loses because you did not pay your tax assessment on time.
How it works
You must pay collection interest if you still owe money on the tax assessment after the final due date. This also applies if you have been granted a deferral of payment, for example because you have lodged an objection. The interest rate is set annually by law.
Interest rate decision
If you owe collection interest, you will receive an interest assessment from us.
Legislation
- Collection Act 1990
- Implementing Regulation for the Collection Act 1990
- Costs Act for the collection of federal taxes
- Code of Civil Procedure