Melbourne Strategic Assessment (Environment Mitigation Levy) Act 2020

If a levy default occurs, the liable person is liable to pay interest, at the applicable rate, on the amount of the levy that is unpaid calculated on a daily basis as follows—

if there has been a failure to comply with a condition of a staged payment approval—from the start of the day after the day on which that failure occurred until the day the amount of the levy is paid;

if a land transfer agreement is terminated before it is wholly performed and that termination is on a day after the day by which the liable person would have been required to pay the levy under section 24 if not for the agreement—from the start of the day after the day the amount of the levy was payable under section 42 until the day the levy is paid;

in all other cases—from the start of the day after the last day of the period of time for payment under section 24 until the day the amount of the levy is paid.

For the purposes of subsection (1), the applicable rate is the rate fixed under section 2 of the Penalty Interest Rates Act 1983 that applied on the first day of July immediately before the due date for the payment.

Interest is not payable in respect of any failure to pay interest under this Division.