| Magistrates' Court of Victoria Penalty Interest Rates | ||
|---|---|---|
| The penalty interest rate fixed by the Attorney-General under the Penalty Interest Rate Act 1983. As published in the Practice Pages of the Law Institute Journal. | ||
| Effective Date | Interest Rate | Number of Days |
| 01/07/1983 | 15.80% | 184 |
| 01/01/1984 | 13.30% | 91 |
| 01/04/1984 | 14.70% | 91 |
| 01/07/1984 | 14.00% | 99 |
| 08/10/1984 | 13.70% | 85 |
| 01/01/1985 | 13.60% | 90 |
| 01/04/1985 | 13.50% | 100 |
| 10/07/1985 | 14.20% | 83 |
| 01/10/1985 | 14.10% | 92 |
| 01/01/1986 | 15.10% | 90 |
| 01/04/1986 | 13.80% | 91 |
| 01/07/1986 | 13.20% | 92 |
| 01/10/1986 | 13.90% | 92 |
| 01/01/1987 | 13.50% | 90 |
| 01/04/1987 | 14.00% | 91 |
| 01/07/1987 | 12.50% | 92 |
| 01/10/1987 | 12.30% | 92 |
|
01/01/1988
|
13.20%
|
91
|
|
01/04/1988
|
12.50%
|
183
|
|
01/10/1988
|
11.80%
|
92
|
|
01/01/1989
|
11.90%
|
110
|
|
21/04/1989
|
13.60%
|
71
|
|
01/07/1989
|
13.70%
|
123
|
|
01/11/1989
|
23.50%
|
92
|
|
01/02/1990
|
19.60%
|
161
|
|
12/07/1990
|
18.50%
|
160
|
|
19/12/1990
|
16.10%
|
133
|
|
01/05/1991
|
15.00%
|
182
|
|
30/10/1991
|
13.20%
|
2308
|
|
23/02/1998
|
12.30%
|
1149
|
|
17/04/2001
|
11.50%
|
382
|
|
04/05/2002
|
12.25%
|
113
|
|
25/08/2002
|
12.00%
|
115
|
|
18/12/2002
|
11.50%
|
96
|
|
24/03/2003
|
11.00%
|
94
|
|
26/06/2003
|
11.25%
|
371
|
|
01/07/2004
|
12.00%
|
274
|
|
01/04/2005
|
11.50%
|
183
|
|
01/10/2005
|
11.00%
|
365
|
|
01/10/2006
|
12.00%
|
701
|
|
01/09/2008
|
11.00%
|
175
|
|
23/02/2009
|
10.00%
|
|
| Under the provisions of Condition 4, Table A, Transfer of Land Act, a party in default in a contract of sale of land is liable to pay interest at a rate of 2 per cent higher than the rate fixed. | ||