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5
THURSDAY, OCTOBER 15, 1981
INTEREST ON TAX RESERVE CERTIFICATES
***
THE GOVERNMENT GAZETTE TO BE PUBLISHED TOMORROW (OCTOBER 16), CONTAINS A LEGAL NOTICE TO THE EFFECT THAT THE FINANCIAL SECRETARY HAS AUTHORISED AN INCREASE IN THE RATE OF INTEREST PAYABLE ON TAX RESERVE CERTIFICATES.
AS FROM TOMORROW THE NEW ANNUAL RATE OF INTEREST WILL BE 14.4 PER CENT (TAX FREE) AS AGAINST THE CURRENT RATE OF 13.2 PER CENT (TAX FREE).
INTEREST ON TAX RESERVE CERTIFICATES IS CALCULATED IN MONTHLY STEPS AND THE NEW RATE WILL BE $1.20 PER MONTH PER $100. INTEREST WILL BE CREDITED AS BEFORE IN RESPECT OF COMPLETED MONTHS BETWEEN PURCHASE AND SURRENDER IN PAYMENT OF TAX.
INTEREST IS ONLY CREDITED WHEN CERTIFICATES ARE USED TO PAY TAX AND NO INTEREST IS DUE WHERE THE PRINCIPAL VALUE OF A CERTIFICATE IS REPAID IN CASH.
THE NEW RATE WILL APPLY TO ALL CERTIFICATES ISSUED ON OR AFTER OCTOBER 16, 1981.
CERTIFICATES WHICH WERE ISSUED BEFORE OCTOBER 16, 1981 LL CONTINUE TO EARN INTEREST AS FOLLOWS I-
4.2 % - PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER
19TH SEPTEMBER 1975 AND BEFORE 17TH FEBRUARY 1977-
3%
3.24%
-
←
5.04%
-
5.76%
8.04%
8.4 %
10.5%
9%
7.2 %
-
-
-
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER 17TH FEBRUARY 1977 AND BEFORE 22ND SEPTEMBER 1978-
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER 22ND SEPTEMBER 1978 AND BEFORE 24TH NOVEMBER 1978-
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER 24TH NOVEMBER 1978 AND BEFORE 16TH FEBRUARY 1979-
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER 16TH FEBRUARY 1979 AND BEFORE 4TH MAY 1979-
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER 4TH MAY 1979 AND BEFORE 26TH OCTOBER 1979-
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER 26TH OCTOBER 1979 AND BEFORE 11TH APRIL 1980-
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER 11TH APRIL 1980 AND BEFORE 30TH MAY 1980-
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER 30TH MAY 1980 AND BEFORE 27TH JUNE 1980-
- PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER
27TH JUNE 1980 AND BEFORE 30TH JULY 1980-
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