Release of new statutory rates under the SRC Act

Comcare has published new statutory rates under the Safety, Rehabilitation and Compensation Act 1988 (SRC Act) for the following purposes:

• indexation of benefits under sections 13 and 13AA of the Safety, Rehabilitation and Compensation Act 1988 (SRC Act)
• indexation of the normal weekly earnings amount where the employee has ceased employment as per subsections 8(9B) and 8(9F)) of the SRC Act
• superannuation pension update (sections 20 and 21A).

The indexation of benefits and indexation of the normal weekly earnings apply from 1 July 2024, and the superannuation pension update applies from 28 June 2024.

The weekly interest rate for superannuation lump sum amounts under sections 21 and 21A is set by legislative instrument and will be published once finalised by the Minister for Employment and Workplace Relations.

The new rates are available at Statutory rates for compensation on this website.