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PPL Guide Contents Using the Guide What's New 1 Key Terms & Principles 2 Eligibility for PLP & DAPP 3 Rate Calculation for PLP & DAPP 4 Claims & Payments for PLP 5 Claims & Payments for DAPP 6 Determinations 7 Compliance & Enforcement 8 Review of Decisions 9 Miscellaneous Acronym List Keyword Index Act Section Index Site Map

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1.1.P.110 Penalty interest rate

Definition

If a person fails to repay a debt as required under the PPLAct, the person may be required to pay interest, at the penalty interest rate, on the outstanding amount of the debt, from time to time.

 

The PPLAct allows for the PPL Rules to prescribe a lesser rate of penalty interest than the rate prescribed in the PPLAct.

 

The PPL Rules prescribe a penalty interest rate of 3% per year.

 

Act reference: PPLAct section 6 The Dictionary, section 175 Interest on debts - when interest becomes payable, section 180 Penalty interest rate

Paid Parental Leave Rules 2010 Part 4-3 Debt recovery

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Last reviewed: 2 October 2012

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