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Residential Tenancies Regulation 2019
41Interest payable on rental bonds—s 173 of Act
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41 Interest payable on rental bonds—s 173 of Act
41 Interest payable on rental bonds—s 173 of Act
(1) The Secretary is to pay interest on an amount of rental bond paid.
(2) The rate of interest payable on a rental bond paid is the rate payable by the Commonwealth Bank of Australia on an Everyday Access Account balance of $1,000 as at the last day of the month the interest is being calculated.
(3) The interest is to be compounded on 30 June and 31 December each year.