Interest Rates

Standard contract default rate*
11.40% (Effective from 1 February 2012)
11.85% (Effective from 1 February 2011 to 31 January 2012)
Family Court
Interest on money ordered to be paid other than maintenance of a periodic sum for rule 17.03 of the Family Court Rules 2004 - rates set at 6% above RBA cash target rate at beginning of periods 1 January - 30 June & 1 July - 31 December
see also the Family Court website for rates and historical rates
10.25% (from 1 January 2012 to 30 June 2012)
10.75% (from 1 July 2011 to 31 December 2011)
10.75% (from 1 January 2011 to 30 June 2011)
10.50% (from 1 July 2010 to 31 December 2010)
8.00% (from 1 July 2009 to 30 June 2010)
12.25% (from 1 July 2008 to 30 June 2009)
11.75% (from 20 December 2007 to 30 June 2008)
10.75% (from 1 July 2007 to 19 December 2007)
Federal Court
Interest on judgement debt - (Order 35 Rule 8 of the Federal Court Rules to 31 July 2011. From 1 August 2011 rule 39.06 of the Federal Court Rules 2011) - rates set at 6% above RBA cash target rate at beginning of periods 1 January - 30 June & 1 July - 31 December see also the Federal Courts website for rates and historical rates
10.25% (from 1 January 2012 to 30 June 2012)
10.75% (from 1 July 2011 to 31 December 2011)
10.75% (from 1 January 2011 to 30 June 2011)
10.50% (from 1 July 2010 to 31 December 2010)
Interest in respect of a pre-judgment period to be set with regard to Practice Note CM 16 - Pre-judgment Interest
Supreme, District & Magistrates Courts
Interest on judgements by default (per practice directions for rule 283 of the UCPR) 10%
Interest on debts under judgements or orders (per s 4 Supreme Court Regulation 2008) 10%
(rates for debts prior to judgement at the court's discretion)
see also Courts website for rates and historical rates
Court Suitors fund
3.9217% (effective 1 October to 31 December 2011)
3.9767% (effective 1 July 2011 to 30 September 2011)
3.8883% (effective 1 April 2011 to 30 June 2011)
3.96% (effective 1 January 2011 to 31 March 2011)
3.88% (effective 1 October 2010 to 31 December 2010)
3.84% (effective 1 July 2010 to 30 September 2010)
3.42% (effective 1 April 2010 to 30 June 2010)
3.11% (effective 1 January 2010 to 31 March 2010)
Cash Rate Target
Interest on unpaid legal costs. See s.321 Legal Profession Act 2007 and s.82 Legal Profession Regulation 2007. Under these provisions a law practice is entitled to charge interest on unpaid legal costs in limited circumstances, and the rate of interest charged must never exceed the Reserve Bank of Australia Cash Rate Target plus 2%. So whenever a bill is given which includes interest the Cash Rate Target should be checked using the RBA website

(Please direct any queries regarding interest rates to interestrates@qls.com.au)

*Historical Interest Rates

February 1, 2011
11.85%
July 1, 2010
11.45%
June 1, 2010
11.20%
May 1, 2010
10.95%
February 1, 2010
10.70%
December 1, 2009
10.15%
June 1, 2009
9.90%
May 1, 2009
10.05%
April 1, 2009
10.1%
March 1, 2009
11.1%
February 1, 2009
11.15%
November 26, 2008
12.15%
October 13, 2008
13.21%
July 17, 2008
14.01%
April 2, 2008
13.77%
March 13, 2008
13.57%
February 8, 2008
13.1%
February 2008
12.85%
December 2007
12.5%
November 2007
12.25%
October 2007
12.25%
September 2007
12.25%
August 2007
12%
July 2007
12%
June 2007
12%
May 2007
12%
April 2007
12%
March 2007
12%
February 2007
12%
December 2006
12%
November 2006
11.75%
October 2006
11.75%
September 2006
11.75%
August 2006
11.5%
July 2006
11.5%
June 2006
11.5%
May 2006
11.25%
April 2006
11.25%
March 2006
11.25%
February 2006
11.25%
December 2005
11.25%
November 2005
11.25%
October 2005
11.25%
September 2005
11.25%
August 2005
11.25%
July 2005
11.25%
June 2005
11.25%
May 2005
11.25%
April 2005
11.25%
March 2005
11%
February 2005
11%