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  1. C

    Calculating interest on overdue money

    Sorry to question again, i think that i have gone through the calculations too many times and confused myself. currently penalty interest rate is 13% per annum. Current monthly rent is $1083.33 plus gst do i take the 13% and divide by 365 to get the daily rate = 0.03561 if i then take...
  2. C

    Calculating interest on overdue money

    yes commercial lease
  3. C

    Calculating interest on overdue money

    Thanks for the help. one more questions, would GST be applicable on the penalty interest?
  4. C

    Calculating interest on overdue money

    if the lease states - interest is calculated daily from the due date, continues until the overdue money is paid and is capitalised monthly to calculate this do i take the monthly rent and times by the interest rate stated in the lease (to give a daily rate) and then times by how many days a...
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