Nomination training contribution charge limit
9 Nomination training contribution charge limit
The nomination training contribution charge limit for a nomination made in the financial year beginning on 1 July 2017 is the following:
for a nomination relating to a temporary visa—$8,000;
for a nomination relating to a permanent visa—$5,500.
The nomination training contribution charge limit for a nomination made in a later financial year is the amount worked out by multiplying the nomination training contribution charge limit for the previous financial year by the greater of 1 or the indexation factor worked out using the following formula:
where:
CPI quarter means a period of 3 months ending on 31 March, 30 June, 30 September or 31 December.
index number for a CPI quarter means the All Groups Consumer Price Index number that is the weighted average of the 8 capital cities and is published by the Australian Statistician in relation to the CPI quarter.
The indexation factor is to be calculated to 3 decimal places (rounding up if the fourth decimal place is 5 or more).
In working out the indexation factor:
use only the index numbers published in terms of the most recently published index reference period for the Consumer Price Index; and
disregard 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).
If the amount worked out under subsection (2) is not a multiple of $5, the amount is to be rounded as follows:
if the amount exceeds the nearest lower multiple of $5 by $2.50 or more—round the amount up to the nearest higher multiple of $5;
otherwise—round the amount down to the nearest lower multiple of $5.
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