Surcharge
A surcharge is added to any unpaid amount from the previous year's rates, i.e. balance as at 30th June and is calculated at 10% of the outstanding amount.
The first surcharge is added on 1 October and is 10% of the balance still outstanding on that date. The second is added on 1 April the following year and is also 10% of the balance of the previous years rates still outstanding.
Examples of Rate Penalties
Example 1
Balance brought forward 30 June
Surcharge from 1 October
- Cash received
TOTAL
|
$1,500.00
$150.00
----------
$1,650.00
Nil
----------
$1,650.00 |
Surcharge 1 April is 10% $165.00
Example 2
Balance brought forward 30 June
Surcharge from 1 October
- Cash received
TOTAL
|
$1,500.00
$150.00
----------
$1,650.00
$750.00
----------
$900.00 |
Surcharge 1 April is 10% $90.00
Example 3
Balance brought forward 30 June
Surcharge from 1 October
- Cash received
TOTAL
|
$1,500.00
$150.00
----------
$1,650.00
$1,700.00
----------
|
Surcharge 1 April is 10% Nil
|
