New Zealand Law Society - Legal aid debt interest rate changing

Legal aid debt interest rate changing

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The interest rate charged on legal aid debt will change on 22 November 2018 for the first time since 2013.

The Legal Services Amendment Regulations 2018 replace the rate of 8% which was set in 2013.

The new interest rate is "the rate that, at that time, is the default public sector discount rate published by the Treasury as a percentage."

The Treasury Discount Rates state that the "default rate (for projects that are difficult to categorise including regulatory proposals):" is 6%.

This is now believed to be the rate from 22 November 2018 for interest on legal aid debt.

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