Election funding amount
225 Election funding amount
For section 223(2)(a) or 224(2)(a), the election funding amount is—
for the financial year that starts on 1 July 2022—
if the entity entitled to the funding is a registered political party—$6.00; or
if the entity entitled to the funding is a candidate—$3.00; or
for each subsequent financial year, the amount worked out (to 3 decimal places) under subsection (2).
The election funding amount is adjusted for each financial year on 1 July using the formula—where—A is the election funding amount immediately before 1 July in a year.B is the CPI number published for the March quarter in the year.C is the CPI number published for the March quarter in the previous year.
However, if, for a particular financial year, adjustment of the election funding amount would reduce the amount, the amount is not to be adjusted for the year.
If an amount would, if calculated to 4 decimal places, end with a number more than 4, the amount is taken to be the amount calculated to 3 decimal places and increased by 0.001.
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