Statutory Rates
- Table 5: SRC Act Subsection 21(5) Specified Rate of Weekly Interest on Lump-sum Superannuation Amounts
Any queries about the information in these tables may be referred to SRC Policy: phone 1300 366 979
Table 1: Statutory benefits rates under the SRC Act 1988
|
Subsection of SRC Act |
Nature of Benefit |
1.7.2008 | 1.7.2007 |
1.7.2006 |
1.7.2005 |
1.7.2004 |
1.7.2003 |
1.7.2002 |
1.7.2001 |
1.7.2000 |
1.7.99 |
|
8(9B) |
Indexation of normal weekly earnings for ex-employees |
4.20% | 4.0% |
4.2% |
3.5% |
3.7% |
3.4% |
3.4% |
n/a |
n/a |
n/a |
| 8(9F) | Indexation of normal weekly earnings for current employees | 4.20% |
3.3% |
n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
|
17(3) |
Death - lump sum |
$225,594.33 | $219,023.62 |
$212,026.74 |
$206,251.69 |
$201,025.04 |
$196,313.52 |
$190,595.65 |
$184,864.84 |
$174,730.47 |
$171,640.91 |
|
17(4) |
Death - lump sum |
$225,594.33 | $219,023.62 |
$212,026.74 |
$206,251.69 |
$201,025.04 |
$196,313.52 |
$190,595.65 |
$184,864.84 |
$174,730.47 |
$171,640.91 |
|
17(5) |
Death - dependent child (per week) |
$75.17 | $72.98 |
$70.65 |
$68.73 |
$66.99 |
$65.42 |
$63.52 |
$61.61 |
$58.23 |
$57.20 |
|
18(4)(a) |
Funeral expenses |
$9,575.91 |
$9,297.00 |
$4,894.39 to 12/4/07 $9,000 from |
$4,761.08 |
$4,640.43 |
$4,531,67 |
$4,399.68 |
$4,267.39 |
$4,033.45 |
$3,962.13 |
|
19(7) |
Incapacity . employee (per week) |
$379.74 | $368.68 |
$356.90 |
$347.18 |
$338.38 |
$330.45 |
$320.83 |
$311.18 |
$294.12 |
$288.92 |
|
19(8) |
Incapacity - prescribed person (per week) |
$94.03 | $91.29 |
$88.37 |
$85.96 |
$83.78 |
$81.81 |
$79.43 |
$77.04 |
$72.82 |
$71.53 |
|
19(9) |
Incapacity - dependent child (per week) |
$46.99 | $45.62 |
$44.16 |
$42.96 |
$41.87 |
$40.89 |
$39.70 |
$38.50 |
$36.39 |
$35.75 |
|
24(9) |
Lump sum permanent impairment |
$150,396.21 | $146,015.74 |
$141,351.15 |
$137,501.12 |
$134,016.69 |
$130,875.67 |
$127,063.76 |
$123,243.22 |
$116,486.98 |
$114,427.30 |
|
27(2) |
a) impairment component |
$28,199.31 | $27,377.97 |
$26,503.36 |
$25,781.48 |
$25,128.15 |
$24,539.20 |
$23,824.47 |
$23,108.12 |
$21,841.32 |
$21,455.13 |
|
|
b) non economic loss component |
$28,199.31 | $27,377.97 |
$26,503.36 |
$25,781.48 |
$25,128.15 |
$24,539.20 |
$23,824.47 |
$23,108.12 |
$21,841.32 |
$21,455.13 |
|
29(1) |
Household services (per week) |
$375.98 | $365.03 |
$353.37 |
$343.74 |
$335.03 |
$327.18 |
$317.65 |
$308.10 |
$291.21 |
$286.06 |
|
29(3) |
Attendant care service (per week) |
$375.98 | $365.03 |
$353.37 |
$343.74 |
$335.03 |
$327.18 |
$317.65 |
$308.10 |
$291.21 |
$286.06 |
|
30(1) |
Redemption - eligibility ceiling (per week) |
$94.03 | $91.29 |
$88.37 |
$85.96 |
$83.78 |
$81.81 |
$79.43 |
$77.04 |
$72.82 |
$71.53 |
|
137(1) |
Redemption - eligibility ceiling (per week) |
$94.03 | $91.29 |
$88.37 |
$85.96 |
$83.78 |
$81.81 |
$79.43 |
$77.04 |
$72.82 |
$71.53 |
Table 2: SRC Act Section 16(6) Specified Rate per Kilometre
|
Date
|
Rate
|
Notice
|
| 1 July 2008 | 60 c/km | Jurisdictional Policy Advice No 2008/06 |
| 1 October 2003 | 47 c/km | No 18 of 2003 Gazette, GN 39, 1/10/03, p 2884 |
|
1 July 2002 |
42 c/km |
Jurisdictional Policy Advice No 2002/01 |
|
1 July 2001 |
42 c/km |
No 2 of 2001 Gazette, GN 26, 4/7/01, p 1817 |
|
7 December 2000 |
34 c/km |
No 1 of 2001 Gazette, GN 9, 7/3/01, p 623 |
|
8 November 2000 |
34 c/km |
No 3 of 2000 Gazette, GN 44, 8/11/00, p 3079 |
|
29 May 1995 |
30 c/km |
No K1 of 1995 Gazette, S 119, 30/5/95 |
|
24 December 1992 |
16 c/km |
No K1 of 1995 Gazette, S 119, 30/5/95 |
|
Date |
|
|
1 July 1992 |
12 c/km |
|
1 July 1991 |
15 c/km |
|
1 July 1990 |
12 c/km |
|
1 July 1989 |
12 c/km |
|
1 December 1988 |
12 c/km |
Table 3: SRC Act Subsection 19(5) Maximum Normal Weekly Earnings after 45 Weeks' Incapacity (being 150% of AWOTEFA)
|
Date of Effect
|
Amount |
| 14/8/08 |
$1698.30 |
| 15/5/08 |
$1684.95 |
| 21/2/08 |
$1669.05 |
|
15/11/07 |
$1655.40 |
|
16/8/07 |
$1632.60 |
|
17/5/07 |
$1605.60 |
|
22/2/07 |
$1588.35 |
|
16/11/06 |
$1576.95 |
|
17/8/06 |
$1564.50 |
|
18/5/06 |
$1553.85 |
|
2/3/06 |
$1544.25 |
|
17/11/05 |
$1533.90 |
|
18/8/05 |
$1512.15 |
|
19/5/05 |
$1486.80 |
|
24/2/05 |
$1457.80 |
|
18/11/04 |
$1440.00 |
|
19/8/04 |
$1428.75 |
|
20/5/04 |
$1422.00 |
|
26/2/04 |
$1409.40 |
|
13/11/03 |
$1397.10 |
|
14/8/03 |
$1381.50 |
|
22/5/03 |
$1350.60 |
|
20/2/03 |
$1334.40 |
|
14/11/02 |
$1318.20 |
|
15/8/03 |
$1300.20 |
|
16/5/02 |
$1290.75 |
|
21/2/02 |
$1273.05 |
|
15/11/01 |
$1257.75 |
|
16/8/01 |
$1236.15 |
|
17/5/01 |
$1215.90 |
|
1/3/01 |
$1203.75 |
|
16/11/00 |
$1197.15 |
|
17/8/00 |
$1173.90 |
|
18/5/00 |
$1162.50 |
|
2/3/00 |
$1144.80 |
Table 4: SRC Act Subsection 20(3) Changes to Superannuation Amount for Superannuation Funds Managed by Comsuper
SRC Act Section 20(3) Changes to “superannuation amount” for superannuation funds managed by ARIA (formerly Comsuper)
|
Date of effect
|
Increase
|
| 20/6/08 | 2.30% |
| 20/12/07 |
1.9% |
| 4/1/07 | 2.5% |
|
22/6/06 |
1.4% |
|
22/12/05 |
1.6% |
|
24/6/05 |
1.4% |
|
23/12/04 |
0.9% |
|
25/6/04 |
1.4% |
|
25/12/03 |
0.6% |
|
27/6/03 |
2.0% |
|
27/12/02 |
1.4% |
|
28/6/02 |
1.8% |
|
28/12/01 |
1.1% |
Table 5: SRC Act Subsection 21(5) Specified Rate of Weekly Interest on Lump-sum Superannuation Amounts
Specified Rate
| Date |
|
| 1/7/08 - 30/6/09 | 6.08% |
| 1/7/07 - 30/6/08 | 5.72% |
| 27/4/07 - 30/6/07 |
5.72% |
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Page last updated:August 19, 2008