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Circulars

Cash Advance Debenture Rate - Circular 27.9

To Chief Executive Officer
Finance and Accounting Staff
Date 4 July 2019
Contact Shane Sody
Email: shane.sody@lga.sa.gov.au
Response Required No
Summary Chapter 10 of the Local Government Act 1999 (Rates & Charges), includes use of the Cash Advance Debenture Rate. The LGA has been advised by the Local Government Finance Authority (LGFA) that the Cash Advance Debenture Rate as at 1 July 2019 is 3.35%.

The Cash Advance Debenture Rate (CADR) as at 1 July 2019 is 3.35%. 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 (3.35%) + 3%
12

 

For the purposes of Section 182A "the prescribed rate" is calculated as

P= CADR (3.35%) + 1%
12

 

For the purposes of Section 186 "the prescribed rate" is calculated as

P= CADR (3.35%)
12

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