New Guideline – Generally Prevailing Interest Rate for loans

The NSWEC has issued a new guideline about the generally prevailing interest rate for loans effective from 1 January 2016. This guideline is relevant as to the rules about what constitutes a political donation. The guideline provides two rates; one for secured loans and one for unsecured loans.

The guideline is numbered 22 on the General Guidelines page of the NSWEC website. Further information about the generally prevailing interest rates on loans can be found in this fact sheet.

The NSWEC may issue and determine guidelines about anything in the Act, which are consistent with the Act and Election Funding, Expenditure and Disclosures Regulation 2009. The purpose of these guidelines is to clarify rules in the Act, ensure that political donations and electoral expenditure are disclosed correctly, and assist political stakeholders' understanding of the rules.