Queensland Consolidated Acts Queensland Consolidated Acts(1) If the full amount of a rate is not paid to the council by the date, or within the time, stated on the rate notice, by which the rate is levied, as the date by which or the time within which the rate must be paid, the unpaid amount bears interest at a rate determined by the council.
(2) A rate of interest determined under subsection (1) must not exceed--
(a) the prescribed rate; or
(b) if there is no prescribed rate--15% per annum;
compounded and calculated on daily rests.