Indexation—compensation amount for workers with highest needs
82BA Indexation—compensation amount for workers with highest needs
The amount A is to be varied on each review date, in accordance with the formula—
where—
A is the amount of $1,020 specified in section 38A or, if that amount has been varied in accordance with this section, that amount as last so varied.
B is the CPI for December of the previous year.
C is the CPI for December of the year before the previous year.
In this section—
CPI means the consumer price index (All Groups Index) for Sydney issued by the Australian Statistician.
review date means 1 April in each year.
The Authority is to declare, by order published on the NSW legislation website on or before each review date, the amount that is to apply as the amount specified in section 38A as varied in accordance with this section.
A declaration made by an order published on the NSW legislation website after a review date for the purposes of the variation required for that review date under this section has effect as if the order were published before that review date.
This Act’s bill:Explanatory memorandum
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