I was charged General Interest Chargers on the December 2024 BAS but it was paid by the due date.
I haven't come across this before. The due date was 28 February and it was paid via bpay on 28 February prior to the cut off of 6pm. Every quarter I paid on the due date and I haven't been charged general interest chargers before.
It appears the ATO is charging general interest based off the processing date not the effective date. The payment is showing on the transaction list with the processing date of 4 March and effective date of 28 February. The interest has been charged 28 Feb to 2 March (3 days).
I was able to get the general interest chargers remitted but it did involve a 20 minute call to the ATO.
Have the ATO changed their general interest charge calculations and are calculating on the processing date? Are they not allowing a few days to before charging interest to give time for payments to come through?
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