Provisional tax - Incorrect use-of-money interest calculations

We're aware of an issue causing use-of-money interest (UOMI) to be calculated from the day after the first provisional tax instalment for some customers, instead of the third instalment date. This affected existing provisional taxpayers with a residual income tax (RIT) of over $60,000 for the current year, and less than $2,500 of RIT for the previous year.

We've now fixed these calculations for customers that have debit UOMI charged. We're currently working to resolve this for customers that have credit UOMI charged and will update you here once we have more information.