IMPORTANT Information for Rates Officers and/or Finance Managers from the LGA
The Cash Advance Debenture Rate (CADR) as at 1 July 2024 is 6.15%.
Chapter 10 of the Local Government Act 1999 (Rates & Charges), includes use of the Cash Advance Debenture Rate (CADR). The LGA has been advised by the Local Government Finance Authority (LGFA) that the Cash Advance Debenture Rate as at 1 July 2024 is 6.15%.
This is the rate for calculations pursuant to sections of the Local Government Act 1999 as follows:
Section 181 (Payment of Rates);
Section 182A Postponement of Rates - Seniors; and
Section 186 (Recovery of Rates not affected by an objection, review or appeal).
For the purposes of Section 181 "the prescribed percentage" is calculated as
P= CADR (6.15%) + 3%
12
For the purposes of Section 182A "the prescribed rate" is calculated as
P= CADR (6.15%) + 1%
12
For the purposes of Section 186 "the prescribed rate" is calculated as
P= CADR (6.15%)
12
