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This instrument is the Safety, Rehabilitation and Compensation (Rates of Interest Payable) Notice 2026.
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This instrument, commencing 1 April 2026, prescribes the interest rates payable under specified subsections of the Safety, Rehabilitation and Compensation Act 1988: it ties interest for ss97L(3) and 97M(7) to the Reserve Bank cash rate, and sets rates for ss97P(1), (2) and (4) as the monthly average yield for 90‑day Bank Accepted Bills for the May preceding the payment date plus 7% per annum. It affects insurers, employers and parties who pay premiums, exit contributions or regulatory contributions.
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Direct links to the current provisions in Safety, Rehabilitation and Compensation (Rates of Interest Payable) Notice 2026.
This instrument is the Safety, Rehabilitation and Compensation (Rates of Interest Payable) Notice 2026.
This instrument commences on 1 April 2026.
This instrument is made under subsections 97L(3), 97M(7), 97P(1), 97P(2) and 97P(4) of the Safety, Rehabilitation and Compensation Act 1988.
Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
In this instrument Act means the Safety, Rehabilitation and Compensation Act 1988.
The rate of interest payable under subsection 97L(3) of the Act is the cash rate target published by the Reserve Bank of Australia.
The rate of interest payable under subsection 97M(7) of the Act is the cash rate target published by the Reserve Bank of Australia.
The rate of interest payable under subsection 97P(1) of the Act is the monthly average yield for 90-day Bank Accepted Bills for the May preceding the date when the premium or regulatory contribution is payable, plus 7% per annum.
The rate of interest payable under subsection 97P(2) of the Act is the monthly average yield for 90-day Bank Accepted Bills for the May preceding the date when the exit contribution or regulatory contribution is payable, plus 7% per annum.
The rate of interest payable under subsection 97P(4) of the Act is the monthly average yield for 90-day Bank Accepted Bills for the May preceding the date when the exit contribution is payable, plus 7% per annum.
Schedule 1—Repeals
Safety, Rehabilitation and Compensation (Rates of Interest Payable) Notice 2016
1 The whole of the instrument
Repeal the instrument.
Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
This instrument is the Safety, Rehabilitation and Compensation (Rates of Interest Payable) Notice 2026.
This instrument commences on 1 April 2026.
This instrument is made under subsections 97L(3), 97M(7), 97P(1), 97P(2) and 97P(4) of the Safety, Rehabilitation and Compensation Act 1988.
Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
In this instrument Act means the Safety, Rehabilitation and Compensation Act 1988.
The rate of interest payable under subsection 97L(3) of the Act is the cash rate target published by the Reserve Bank of Australia.
The rate of interest payable under subsection 97M(7) of the Act is the cash rate target published by the Reserve Bank of Australia.
The rate of interest payable under subsection 97P(1) of the Act is the monthly average yield for 90-day Bank Accepted Bills for the May preceding the date when the premium or regulatory contribution is payable, plus 7% per annum.
The rate of interest payable under subsection 97P(2) of the Act is the monthly average yield for 90-day Bank Accepted Bills for the May preceding the date when the exit contribution or regulatory contribution is payable, plus 7% per annum.
The rate of interest payable under subsection 97P(4) of the Act is the monthly average yield for 90-day Bank Accepted Bills for the May preceding the date when the exit contribution is payable, plus 7% per annum.
Schedule 1—Repeals
Safety, Rehabilitation and Compensation (Rates of Interest Payable) Notice 2016
1 The whole of the instrument
Repeal the instrument.