10Interest rate on overdue long service leave levy

10 Interest rate on overdue long service leave levy

10 Interest rate on overdue long service leave levy

For the Act, section 43(1), the prescribed rate per calendar month or part of a calendar month is the annual rate, compounded monthly, that is 6% above the cash rate last published by the Reserve Bank of Australia—

(a) for interest accrued between 1 January and 30 June—immediately before 1 January, and

(b) for interest accrued between 1 July and 31 December—immediately before 1 July.