Period

Prevailing Late Payment Interest Rate

With effect from 1 Feb 2020 to 31 March 2021.
(Rate applies only to non-rental arrears that are due between 1 Feb 2020 and 31 Mar 2021, and are outstanding as at or after 1 Aug 2020. The rate applies to interest accrued between 1 Feb 2020 and 31 Mar 2021.)

5.0% per annum, subject to a minimum of $3.

With effect from 1 Apr 2021 to 31 Mar 2023

5.5% per annum, subject to a minimum of $3.

With effect from 1 Apr 2023 to 30 Sept 2023

7.7% per annum, subject to a minimum of $3.

With effect from 1 Oct 2023 to 30 Sept 2024

8.1% per annum, subject to a minimum of $3.

With effect from 1 Oct 2024 to 31 Mar 2025

8.0% per annum, subject to a minimum of $3.

With effect from 1 Apr 2025 to 30 Sept 2025

7.2% per annum, subject to a minimum of $3.

With effect from 1 Oct 2025 to 31 Mar 2026

6.0% per annum, subject to a minimum of $3.

Amount in arrears

Start Date

End Date

LPI Rate to Apply

Computation of LPI for period from 1 Apr 2025 to 30 Sept 2025

$4,000

1-Oct-25

31-Mar-26

6.0%

LPI = 6.0% x $4,000 x (182/365 days) = $119.67