Indexation of amounts
111A Indexation of amounts
For the purposes of section 471 of the Uniform Law, an indexed amount is to be indexed each financial year in accordance with the following formula—
Note.
106.8 is the CPI number for the March quarter of 2015.
An indexed amount is to be rounded to the nearest $5.
If an indexed amount for any financial year is less than the amount that applied for the previous financial year, then the amount that applied for that previous financial year applies instead.
As soon as practicable after the latest CPI number is first published by the Australian Statistician, the Commissioner is required to—
notify the NSW Parliamentary Counsel of the indexed amounts for the next financial year so that notice of those amounts can be published on the NSW legislation website, and
give public notice on the Legal Services Council’s website of the actual amounts applying in each financial year resulting from indexation under this rule.
In this rule—
CPI number means the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, published by the Australian Statistician.
financial year means a period of 12 months commencing on 1 July.
latest CPI number means the CPI number for the March quarter in the financial year immediately preceding the financial year for which the amount is to be indexed.
March quarter means a period of 3 months ending 31 March.
Editorial note—
For a financial year specified in Column 1, the indexed amounts for the amounts of $100,000, $10,000 and $25,000 referred to in the following provisions are the amounts specified in Columns 2, 3 and 4, respectively, corresponding to the financial year—
Legal Profession Uniform Law, sections 291(1)(a) and (b), 292(2)(b) and (3) and 293(2)(b)(i) and (ii),
Legal Profession Uniform Law Application Act 2014 of Victoria, section 99(1)(a) and (4)(a).
Column 1
Column 2
Column 3
Column 4
Financial year
Original amount—$100,000
Original amount—$10,000
Original amount—$25,000
2019–2020
$106,835
$10,685
$26,710
2020–2021
$116,635
$11,665
$29,160
2021–2022
$128,760
$12,880
$32,190
2022–2023
$149,375
$14,940
$37,345
2023–2024
$185,460
$18,550
$46,365
2024–2025
$238,595
$23,865
$59,650
2025–2026
$314,330
$31,440
$78,585
2026–2027
$314,330
$31,440
$78,585
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