Interest on damages
(1) A court must not, in a proceeding to which this Part applies, order the payment of interest on personal injury damages for: (a) non‑economic loss; or (b) gratuitous attendant care services for the plaintiff; or (c) loss of the plaintiff’s capacity to provide gratuitous attendant care services to other persons. (2) If, in a proceeding to which this Part applies, a court is satisfied that interest is payable on personal injury damages of another kind, the rate of interest to be used in working out the interest is: (a) the rate of interest prescribed by the regulations; or (b) if no rate is prescribed—the 10‑year benchmark bond rate on the day on which the court determines the personal injury damages. (3) This section does not affect the payment of interest on a debt under a judgment or order of a court. (4) In this section: 10‑year benchmark bond rate, on a day, means: (a) if the day occurs on or after 1 March in a particular year and before 1 September in that year—the Commonwealth Government 10‑year benchmark bond rate: (i) as published by the Reserve Bank of Australia in the Reserve Bank of Australia Bulletin (however described); and (ii) applying on the first business day of January in that year; or (b) otherwise—the Commonwealth Government 10‑year benchmark bond rate, as so published, applying on the first business day of July in the preceding year. business day means a day other than a Saturday, a Sunday or a public or bank holiday in any State, the Australian Capital Territory or the Northern Territory.
Sourced from the Federal Register of Legislation at 22 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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