FAMILY LAW RULES 2004 - RULE 17.03 Rate of interest

For paragraphs 87 (11) (b) and 90KA (b) and subsection 117B (1) of the Act, the rate of interest prescribed, for each 6 months commencing on 1 January and 1 July each year, is the sum of:

  1. the Reserve Bank of Australia target cash rate last published before 1 January and 1 July of the year; and
  2. 6.00%.

Note For the date from which interest is payable, see section 117B of the Act.

Extract from Explanatory Statement SR No. 238 of 2010

Schedule 1, Item 26, Rule 17.03

The amendment creates a new basis upon which default interest is calculated. This is the Reserve Bank cash rate plus 6%. This amendment is made to help harmonise the approach to interest rates amongst the various Australian Superior Courts.

Reserve Bank Cash Rate target see : http://www.rba.gov.au/statistics/cash-rate/

Current Calculation and the period of operation
(a) 1.50 + (b) 6 = 7.50% 1 July 2017 to 31 December 2017

The previous rates of interest and the periods for which they were operative are as follows:

7.50% 1 January 2017 to 30 June 2017
7.75% 1 July 2016 to 31 December 2016
8.00% 1 January 2016 to 30 June 2016
8.00% 1 July 2015 to 31 December 2015
8.50% 1 January 2015 to 30 June 2015
8.50% 1 July 2014 to 31 December 2014
8.50% 1 January 2014 to 30 June 2014
8.75% 01 July 2013 to 31 December 2013
9.00% 01 January 2013 to 30 June 2013
9.50% 01 July 2012 to 31 December 2012
10.25% 01 January 2012 to 30 June 2012
10.75% 01 July 2011 to 31 December 2011
10.75% 01 January 2011 to 1 July 2011
9.5% 01 July 2010 to 31 December 2010
8.0% 01 July 2009 to 30 June 2010
12.25% 01 July 2008 to 30 June 2009
11.75% 20 December 2007 to 30 June 2008
10.75% 01 July 2006 to 19 December 2007
10.25% 17 December 2004 to 30 June 2006
9.55% 29 March 2004 to 16 December 2004

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