Post Judgment Interest Calculator QLD

This calculator works out post-judgment interest for Queensland court judgments under the Civil Proceedings Act 2011, using the default rate set by the Queensland Government. You enter the judgment amount, the date judgment was given, and the payment date (or today’s date), and it returns the interest accrued and the total amount owed.

Formula

The formula for post-judgment interest in Queensland is:

Interest = Principal × (Annual Rate ÷ 100) × (Days ÷ 365)

Where:

• Principal – the judgment amount in dollars (the amount the court ordered the debtor to pay).
• Annual Rate – the applicable interest rate per year, expressed as a percentage. In Queensland, unless a different rate is specified in the judgment, this is set by the Civil Proceedings Act 2011 and is published by the Queensland Government (currently 8% per annum, but always check the current rate).
• Days – the number of days from the date of judgment (or the date the judgment takes effect) to the date of payment. If payment is made in instalments, interest is calculated on the outstanding balance from time to time.

The calculation uses a 365-day year, which is the standard convention for court interest in Australia. The result is the interest accrued in dollars; adding it to the principal gives the total amount the judgment debtor must pay.

Worked Example

Using the default values from the calculator above:

• Judgment amount = $50,000
• Judgment date = 15 January 2023
• Payment date = 15 June 2024
• Annual rate = 8%

First, calculate the number of days between the dates. From 15 January 2023 to 15 June 2024 is 517 days (checking: 2023 is not a leap year, so 15 Jan to 31 Dec 2023 is 350 days; 1 Jan to 15 June 2024 is 167 days; 350 + 167 = 517).

Now apply the formula:

Interest = $50,000 × (8 ÷ 100) × (517 ÷ 365)

Interest = $50,000 × 0.08 × 1.416438…

Interest = $50,000 × 0.113315…

Interest = $5,665.75 (rounded to two decimal places)

Total owed = $50,000 + $5,665.75 = $55,665.75

The calculator shows the same result: $5,665.75 interest and $55,665.75 total.

Why the Rate Matters

In Queensland, the default post-judgment interest rate is set by the Civil Proceedings Act 2011 (section 59) and is published in the Queensland Government Gazette. Historically, it has been around 8% per annum, but it can change. The rate is a simple annual rate, not compounded. This means interest is calculated only on the original judgment amount, not on previously accrued interest.

If the judgment itself specifies a different rate (for example, a contract rate), that rate applies instead of the default. Similarly, if the judgment orders interest to be calculated from a date other than the judgment date, use that date as the start date.

For judgments from other Australian jurisdictions, the rate and rules differ. This calculator is specific to Queensland, so it should not be used for a New South Wales or Victorian judgment without adjusting the rate and start-date rules.

How to Use the Calculator

To get an accurate estimate, you need three pieces of information:

1. The judgment amount – the total amount the court ordered, including any costs if they are part of the judgment.
2. The date of judgment – the date the judgment was given, unless the judgment states a different commencement date for interest.
3. The payment date – the date you expect to receive payment, or the date you are calculating to (often today).

Enter these values, and the calculator will give you the interest accrued and the total amount owed. The calculator assumes the interest rate is constant over the period. If the rate changes mid-way (which is rare for post-judgment interest), you would need to calculate in two segments.

Common Mistakes and Misconceptions

One common mistake is using a 360-day year (common in some banking calculations) instead of 365. Courts in Australia use 365 days, so the difference can be significant for large amounts or long periods.

Another mistake is starting the interest from the date of the original debt, not the judgment date. Post-judgment interest only runs from the date the judgment is given (or a date specified in the judgment), not from when the debt was incurred.

A frequent misconception is that interest is compounded. It is not – it is simple interest. The court does not award interest on interest.

Finally, if the debtor makes partial payments, interest is calculated on the reducing balance. This calculator assumes a single lump-sum payment. For partial payments, you must recalculate after each payment.

Enforcing the Judgment

Knowing the interest is useful, but collecting the judgment is a separate process. In Queensland, you can enforce a judgment through the Magistrates Court or District Court using methods such as:

• Enforcement hearing (where the debtor must disclose their financial position)
• Warrant of seizure and sale (bailiff seizes goods)
• Garnishee order (deduct from wages or bank account)
• Charging order (over real estate)

Interest continues to accrue until the judgment is paid in full, so it is in the debtor’s interest to pay promptly. If you are unsure about enforcement, consult a lawyer or the Queensland Courts website for procedural guides.

Frequently Asked Questions

What is the current post-judgment interest rate in Queensland?

The default rate is set under the Civil Proceedings Act 2011 and is published by the Queensland Government. It has been 8% per annum for many years, but you should check the current rate on the Queensland Courts website or the Government Gazette, as it can be changed by regulation.

Can I claim interest on costs awarded in the judgment?

Yes, if the judgment amount includes costs, interest runs on the whole judgment amount, including costs, from the date of judgment. However, if costs are not quantified until later, the interest on those costs may only run from the date they are assessed or agreed.

Does the calculator work for judgments from other Australian states?

No. Each state has its own rules and rates. For example, New South Wales uses a different rate and calculation method. This calculator is only for Queensland judgments. For other states, use a state-specific calculator or consult the relevant legislation.

What if the judgment is paid in instalments?

Interest is calculated on the outstanding balance from time to time. You would need to calculate interest for each period between payments, using the reducing principal. This calculator assumes a single payment. For instalments, break the period into segments and calculate each separately.

Is the interest compounded daily or annually?

Neither. The interest is simple interest, calculated on the original principal for the number of days outstanding. It is not compounded. The daily rate is the annual rate divided by 365, but it is applied to the principal, not to previously accrued interest.

Can I use this calculator for a judgment that is more than a few years old?

Yes, but be aware that the interest rate might have changed over that period. If the rate changed, you must calculate in segments using the applicable rate for each period. The calculator uses a single rate for the entire period, so for long periods, you may need to do multiple calculations.

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in amount | Judgment amount | $ | 50000 | 0 | 10000000
in start | Judgment date | - | 2023-01-15 | 2000-01-01 | 2100-12-31
in end | Payment date | - | 2024-06-15 | 2000-01-01 | 2100-12-31
in rate | Annual interest rate | % | 8.00 | 0 | 30
out interest | Interest accrued | $ | amount * rate/100 * (end - start) / 365 | 2
out total | Total owed | $ | amount + amount * rate/100 * (end - start) / 365 | 2