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To implement an agreement reached by representatives of all Australian jurisdictions, to establish nationally uniform interest rates Practice Directions have been issued for the Supreme, District and Magistrates Courts that base interest rates as follows:
- For the registrar when entering default judgment under rule 283 of the Uniform Civil Procedure Rules 1999 at the Reserve Bank Cash rate as at 30 June and 31 December each year plus 4%.
- For a money order at the Reserve Bank Cash rate as at 30 June and 31 December each year plus 6%.
These rates are applicable in the Supreme, District and Magistrates Courts.
To assist litigants and registry staff calculate interest Queensland Courts have developed an on line interest calculator which can be used to calculate simple interest from 1 November 2000 only.
To expedite requests for default judgment and applications for enforcement hearing summons and enforcement warrants litigants are encouraged to print a report of the calculations and present it to the registrar with their documentation.