Working out amounts
48C Working out amounts
An Act may express a fee or other matter as a number (whether whole or fractional) of fee units.
The Act may also provide for how an amount is to be rounded for the purpose of subsection (3).
The amount of the fee or other matter is the number of dollars obtained by—
multiplying the value of a fee unit for the Act by the number of fee units; and
rounding the result—
if the Act provides for how the result is to be rounded—in that way; or
otherwise—to the nearest cent (rounding one-half upwards).
Example—A regulation under section 48B prescribes $1.015 to be the value of a fee unit for an Act. The Act provides for a licence fee of 120.44 fee units and does not provide for how amounts are to be rounded for the purpose of this subsection. The number of dollars obtained by multiplying $1.015 by 120.44 is $122.2466. So, after rounding, the amount of the licence fee is $122.25.
This provision refers to the regulations (A regulation
). Made under this Act:
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