13Interest rate on overdue long service leave levy—the Act, s 52

13 Interest rate on overdue long service leave levy—the Act, s 52

13 Interest rate on overdue long service leave levy—the Act, s 52

For the Act, section 52(5), definition of prescribed rate, paragraph (b), the prescribed rate per calendar month or part of a calendar month is the rate 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.