this product is unavailable for purchase using a firm account, please log in with a personal account to make this purchase.

The LIV is currently closed to all visitors.

We are working remotely to deliver member services. For more information visit our 

COVID-19 Hub
Select from any of the filters or enter a search term
Calendar
Calendar

Practice notes

Practice notes

By Law Institute Journal

COVID-19 Practice & Procedure 

0 Comments


Law Institute of Victoria

CASH RATE TARGET

From 6 December 2007 law practices whose matters are governed by the Legal Profession Act 2004 cannot use the penalty interest rate for their accounts. The maximum rate is the cash rate target plus 2 per cent. The cash rate target is currently 0.10 per cent (from 4 November 2020). To monitor changes between editions of the LIJ, practitioners should check www.rba.gov.au/statistics/cash-rate.

PENALTY AND FEES UNITS

For the financial year commencing 1 July 2020, the value of a penalty unit is $165.22. The value of a fee unit is $14.81 (Government Gazette G16, 23 April 2020).

PENALTY INTEREST RATE

The penalty interest rate is 10 per cent per annum (from 1 February 2017). To monitor changes to this rate between editions of the LIJ, practitioners should check the Magistrates’ Court of Victoria website.

COVID-19 Hub – http://www.liv.asn.au/COVID19

The LIV has established a COVID-19 Hub for the profession to ensure support for members and the legal profession during the pandemic. It contains all actions the LIV is taking to deliver continuity of services, tools and guides for members including practice contingency planning, working from home advice, current information from the courts, the regulator and the broader legal sector, as well as other useful information and advice. It is updated regularly.

LIV FAQs

Information and advice from the courts

  • Administrative Appeals Tribunal
  • Children’s Court
  • County Court
  • Court Services Victoria
  • Family Court of Australia
  • Federal Circuit Court of Australia
  • Federal Court of Australia
  • Magistrates’ Court
  • Supreme Court
  • VCAT
  • Other

Information for the profession 

  • COVID-19 State of Disaster – Key information for the profession
  • Australian Registrars National Electronic Conveyancing Council (ARNECC)
  • Corrections Victoria
  • Department of Jobs, Precincts and Regions
  • Department of Justice and Community Safety Victoria
  • Fair Work Australia
  • Fair Work Commission
  • JobWatch
  • Judicial College of Victoria
  • Law Institute of Victoria
  • Legal Practitioners’ Liability Committee (LPLC)
  • Safe Work Australia
  • Victoria Legal Aid
  • Victorian Bar
  • Victorian DHHS
  • Victorian Small Business Commission
  • VLSB+C

LIV services and support

  • Quick Contacts
  • Your Wellbeing
  • Communications and LIV’s response
  • Access to Member Facilities
  • LIV Activities and CPD
  • Member Services & Support
  • Legal Referral Service

Government sti​mulus and support

  • Commonwealth Support for Business
  • Victorian Government Response ■

Views expressed on liv.asn.au (Website) are not necessarily endorsed by the Law Institute of Victoria Ltd (LIV).

The information, including statements, opinions, documents and materials contained on the Website (Website Content) is for general information purposes only. The Website Content does not take into account your specific needs, objectives or circumstances, and it is not legal advice or services. Any reliance you place on the Website Content is at your own risk.

To the maximum extent permitted by law, the LIV excludes all liability for any loss or damage of any kind (including special, indirect or consequential loss and including loss of business profits) arising out of or in connection with the Website Content and the use or performance of the Website except to the extent that the loss or damage is directly caused by the LIV’s fraud or wilful misconduct.

Be the first to comment