Adjustment of new party policy development amounts
5A Adjustment of new party policy development amounts
Each of the adjustable amounts specified in section 93 must be adjusted for inflation for the 2023–24 financial year and each subsequent financial year as provided by this clause.
The adjustable amounts that are to apply for the 2023–24 financial year are to be determined by multiplying the adjustable amounts specified in section 93 by the annual increase in the Consumer Price Index during the previous financial year.
The adjustable amounts that are to apply for a subsequent financial year are to be determined by multiplying the adjustable amounts that applied for the previous financial year by the annual increase in the Consumer Price Index during that previous financial year.
The annual increase in the Consumer Price Index during a financial year must to be calculated as where—
A is the Consumer Price Index number for the last quarter for which that number was published before the start of the financial year.
B is the Consumer Price Index number for the last quarter for which that number was published before the end of the financial year.
If is less than 1 (as a result of deflation), is deemed to be 1.
The Electoral Commission must publish notice on the NSW legislation website and its website of the amount of each adjustable amount for a financial year, as adjusted under this Schedule, before the start of the financial year.
Editorial note—
For the latest notice under this subsection, see the Electoral Funding (Adjustable Amounts) (New Party Policy Development Funding) Notice 2026 (269).
This Act’s bill:Explanatory memorandumSecond reading speech
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