Indexation of administrative assistance funding amount
321AC Indexation of administrative assistance funding amount
If the indexation factor for an indexation day is greater than 1, the indexable amount is, on that day, replaced by the amount worked out using this formula:
The amount worked out under subsection (1) is to be rounded to the nearest whole dollar (rounding 50 cents upwards).
Indexation factor
The indexation factor for an indexation day is the number worked out using this formula:
The indexation factor is to be worked out to 3 decimal places (rounding up if the fourth decimal place is 5 or more).
Changes to CPI index reference period and publication of substituted index numbers
Amounts are to be worked out under this section:
using only the index numbers published in terms of the most recently published index reference period for the Consumer Price Index; and
disregarding index numbers published in substitution for previously published index numbers (except where the substituted numbers are published to take account of changes in the index reference period).
Definitions
In this section:
base quarter means the last March quarter before the reference quarter.
indexable amount means the dollar amount applicable under the following:
paragraph 302AB(2)(a) or (b);
subparagraph 302AB(2)(c)(i) or (d)(i);
paragraph 302AC(2)(a) or (b);
subparagraph 302AC(2)(c)(i) or (d)(i).
indexation day means the first 1 July to occur after the commencement of this section and each later 1 July.
index number, for a quarter, means the All Groups Consumer Price Index number (being the weighted average of the 8 capital cities) published by the Australian Statistician for that quarter.
March quarter means a period of 3 months starting on 1 January.
reference quarter means the last March quarter before the indexation day.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.