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7.6.4 Final payment day
22.214.171.124 — The final payment day is the later of the following days:
- 90 — th day after the day on which the debt was due and payable (the debt is due and payable on the 28 — th day after the date of the first notice); or
- 28 — th day after the date of the further notice.
In other words the final payment day cannot be earlier than the 118th day after the date of the first notice.
A first notice is issued on 2 March. The debt is due on 30 March. The final payment day is 90 days after 30 March. Therefore the person is liable to pay penalty interest from 29 June.
In addition to the above rules, the final payment day for age pensioners paid by DVA may also be the 90th day after the day an Authorised Review Officer makes a decision, if a request for review has been made within 90 days after receipt of a first notice.
First notice issued on 1 August. Request for review made within 90 days of receipt of notice, on 10 August. Authorised Review Officer makes a decision on 1 September. Final payment day is 90 days after 1 September decision, being 30 November.