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This instrument is the Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Instrument 2025.
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Commonwealth legislation
This instrument fixes the weekly interest rate on lump-sum workers’ compensation payments at 4.29% per annum for 1 July 2025 to 30 June 2026, for use in calculating amounts under subsections 21(3) and 21A(3) of the Safety, Rehabilitation and Compensation Act 1988 (s6). It commences 1 July 2025 (s2), is made under s21(5) of the Act (s3), and repeals the 2024 instrument (Schedule 1). It directly changes the monetary amount payable under the Act and requires administrators to apply the new rate (s6).
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Direct links to the current provisions in Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Instrument 2025.
This instrument is the Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Instrument 2025.
This instrument commences 1 July 2025.
This instrument is made under subsection 21(5) of the Safety, Rehabilitation and Compensation Act 1988.
In this instrument:
Act means the Safety, Rehabilitation and Compensation Act 1988.
Each instrument that is specified in Schedule 1 to this instrument is amended or repealed as set out in the applicable items in that Schedule, and any other item in that Schedule has effect according to its terms.
For the purposes of the definition of weekly interest on the lump sum in subsections 21(3) and 21A(3) of the Act, the rate of 4.29 per cent per annum is specified for the period from 1 July 2025 to 30 June 2026.
Schedule 1—Repeals
Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Instrument 2024
Note: See section 5.
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 (Weekly Interest on the Lump Sum) Instrument 2025.
This instrument commences 1 July 2025.
This instrument is made under subsection 21(5) of the Safety, Rehabilitation and Compensation Act 1988.
In this instrument:
Act means the Safety, Rehabilitation and Compensation Act 1988.
Each instrument that is specified in Schedule 1 to this instrument is amended or repealed as set out in the applicable items in that Schedule, and any other item in that Schedule has effect according to its terms.
For the purposes of the definition of weekly interest on the lump sum in subsections 21(3) and 21A(3) of the Act, the rate of 4.29 per cent per annum is specified for the period from 1 July 2025 to 30 June 2026.
Schedule 1—Repeals
Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Instrument 2024
Note: See section 5.
1 The whole of the instrument
Repeal the instrument