1198
In forceRounding off amounts
Volume 4Chapter 3, Part 3.12A to Chapter 6 (sections 1157A to 1263), Schedule 1A
Chapter 3General provisions relating to payability and rates
Part 3.16Indexation and adjustment of amounts
Division 3Social security pension indexation using Pensioner and Beneficiary Living Cost Index
1198 Rounding off amounts
(1)
If a provisional living cost amount is a multiple of $2.60, the provisional living cost amount becomes the living cost amount.
(2)
Subject to subsection (3), if a provisional living cost amount is not a multiple of $2.60, the living cost amount is the provisional living cost amount rounded up or down to the nearest multiple of $2.60.
(3)
If a provisional living cost amount is not a multiple of $2.60 but is a multiple of $1.30, the living cost amount is the provisional living cost amount rounded up to the nearest multiple of $2.60.
Research tools for this sectionSubscription
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.