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.

With effect from 1 Apr 2026 to 30 Sept 2026

5.6% per annum, subject to a minimum of $3.

LPI computation for an outstanding non-rental arrears of $4,000 due to SLA since 31 March 2026 and paid on 30 Apr 2026 is as follows:

Amount in arrears

Start Date

End Date

LPI Rate to Apply

Computation of LPI for period from 1 Apr 2026 to 30 Apr 2026

$4,000

1-Apr-26

30-Apr-26

5.6%

LPI = 5.6% x $4,000 x (30/365 days) = $18.41