Indexation of veterans supplement
198F Indexation of veterans supplement
This section applies to the dollar amount mentioned in the following provisions:
section 118C;
section 118D.
The dollar amount mentioned in that provision, for an indexation day on which the indexation factor is greater than one, is replaced by the amount that is worked out using the following formula:
Start formula Dollar amount for that provision on the day before the indexation day times Indexation factor for the indexation day end formula
The indexation factor for an indexation day is the number worked out using the following formula:
Start formula start fraction Index number for the most recent June quarter before the indexation day over Highest index number for an earlier June quarter (but not earlier than June quarter 2008) end fraction end formula
The indexation factor is to be calculated to 3 decimal places, but increased by 0.001 if the 4th decimal place is more than 4.
If an amount worked out under subsection (2) is not a multiple of 20 cents, the amount is to be rounded down to the nearest multiple of 20 cents.
In this section:
indexation day means 1 January 2010 and each later 1 January.
This Act’s bill:Second reading speech
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