How to calculate Interest in TAS (Australia)

AU-TAS interest rules

This source-backed guide covers Tasmania debt, judgment, administration-proceedings, pre-judgment, and post-judgment interest rules. It certifies only the quoted source-backed rules below; related interest categories remain outside this page unless they are expressly listed in the receipt.

Debt or sum certain interest

For debts or sums certain recovered in an action, section 34 allows interest at the prescribed rate from the due date in a written instrument or, if payable otherwise, from written demand; rule 5A(2) sets the rate at 4% plus the relevant Reserve Bank of Australia cash rate, and the 2026 circular publishes 7.60% for the first half of 2026.

Supreme Court Civil Procedure Act 1932 s 34. 34. Recovery of interest on debts. (1) Upon all debts or sums certain recovered in any action, or on the trial of and issue of fact, the jury, or (in cases where there is no jury) the judge, or (in the case of an assessment of damages) the jury, judge, officer of the court, judge of an inferior court of civil jurisdiction, or referee making the assessment, may allow interest to the party recovering such debt or sum at the prescribed rate - (a) from the time when such debt or sum was payable if payable by virtue of some written instrument and at a date or time certain; or (b) if payable otherwise, then from the time when demand of payment was made in writing, giving notice to the debtor that interest would be claimed from the date of such demand or any later date. (2) For the purposes of subsection (1), the prescribed rate is the rate per centum per annum that is from time to time specified in the Rules of Court.

Money judgment interest

For judgments requiring payment of money, section 35A allows interest at a rate not exceeding the prescribed rate from the day after the cause of action arose until judgment entry, unless the parties agreed otherwise or sections 34 or 35 control; rule 5A(3) sets the rate at 6% plus the relevant cash rate, and the 2026 circular publishes 9.60% for the first half of 2026.

Supreme Court Civil Procedure Act 1932 s 35A. 35A. Interest on judgments. (1) Unless otherwise agreed by the parties or provided for under section 34 or 35 , the court or a judge, when making a judgment requiring the payment of an amount of money, may order that the amount, or part of the amount, carries interest at rate not exceeding the prescribed rate for the whole or any part of the period commencing on the day after the day on which the cause of action arose and ending on the day on which the judgment is entered. (2) Subsection (1) does not - (a) authorise the giving of interest on interest; or (b) apply in relation to any amount on which interest is payable as of right whether because of an agreement or otherwise; or (c) affect the damages recoverable for the dishonour of a bill of exchange; or (d) limit the operation of any other enactment or rule of law providing for the award of interest. (3) For the purposes of subsection (1), the prescribed rate is the rate per centum per annum that is from time to time specified in the Rules of Court.

Administration proceedings rate

For administration proceedings under Division 6 of Part 36, rule 5A(1) sets the prescribed rate as the last cash rate published by the Reserve Bank of Australia before 1 January; the 2026 circular publishes 3.60% for the calendar year.

Supreme Court Rules 2000 r 5A(1). (1) For administration proceedings under Division 6 of Part 36, the prescribed rate of interest for a calendar year, or for part of a calendar year, is the last cash rate published by the Reserve Bank of Australia before 1 January in that year.

Pre-judgment interest rate

For section 34 and rule 347(1)(b), rule 5A(2) sets the prescribed rate at 4% plus the relevant half-year Reserve Bank of Australia cash rate; the 2026 circular publishes 7.60% for the first half of 2026.

Supreme Court Rules 2000 r 5A(2). (2) For the purpose of section 34 of the Supreme Court Civil Procedure Act 1932 and rule 347(1)(b), the prescribed rate of interest for a calendar year, or for part of a calendar year, is a rate equal to 4% plus - (a) for the period commencing on 1 January in a calendar year and ending on 30 June in that year, or for part of that period, the last cash rate published by the Reserve Bank of Australia before that 1 January; and (b) for the period commencing on 1 July in a calendar year and ending on 31 December in that year, or for part of that period, the last cash rate published by the Reserve Bank of Australia before that 1 July.

Post-judgment interest rate

For section 165 and rule 887A(1)(b), rule 5A(3) sets the prescribed rate at 6% plus the relevant half-year Reserve Bank of Australia cash rate; the 2026 circular publishes 9.60% for the first half of 2026.

Supreme Court Rules 2000 r 5A(3). (3) For the purpose of section 165 of the Supreme Court Civil Procedure Act 1932 and rule 887A(1)(b), the prescribed rate of interest for a calendar year, or for part of a calendar year, is a rate equal to 6% plus - (a) for the period commencing on 1 January in a calendar year and ending on 30 June in that year, or for part of that period, the last cash rate published by the Reserve Bank of Australia before that 1 January; and (b) for the period commencing on 1 July in a calendar year and ending on 31 December in that year, or for part of that period, the last cash rate published by the Reserve Bank of Australia before that 1 July.

Not certified by this page

• This receipt does not certify criminal interest, tax interest, escrow interest, security-deposit interest, or other special-purpose interest schemes outside Supreme Court Civil Procedure Act 1932 sections 34 and 35A and Supreme Court Rules 2000 rule 5A.

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Sources

• Supreme Court Civil Procedure Act 1932 s 34 — Recovery of interest on debts
• Supreme Court Civil Procedure Act 1932 s 35A — Interest on judgments
• Supreme Court Rules 2000 r 5A(1) — Prescribed rates of interest for administration proceedings, pre-judgment interest and post-judgment interest
• Supreme Court Rules 2000 r 5A(2) — Prescribed rates of interest for administration proceedings, pre-judgment interest and post-judgment interest
• Supreme Court Rules 2000 r 5A(3) — Prescribed rates of interest for administration proceedings, pre-judgment interest and post-judgment interest
• Supreme Court of Tasmania Circular to Practitioners No. 18 of 2025 — Prescribed Rates of Interest from 1 January 2026

All sources are official primary law published by www.legislation.tas.gov.au, www.supremecourt.tas.gov.au.

Corroboration method: Official Tasmanian Legislation Online HTML for Supreme Court Civil Procedure Act 1932 sections 34 and 35A plus Supreme Court Rules 2000 rule 5A, corroborated by the Supreme Court of Tasmania circular publishing the 1 January 2026 prescribed rates.