Torres Strait Islander Land Regulation 2011

For section 152(2) of the Act, the percentage of the royalty amount received in a financial year is—

100% of each $1 of the royalty amount up to and including, but not more than, the threshold amount for paragraph (a); and

50% of each $1 of the royalty amount that is more than the threshold amount for paragraph (a) but not more than the threshold amount for paragraph (b); and

33.32% of each $1 of the royalty amount that is more than the threshold amount for paragraph (b) but not more than the threshold amount for paragraph (c); and

20% of each $1 of the royalty amount that is more than the threshold amount for paragraph (c) but not more than the threshold amount for paragraph (d); and

10% of each $1 of the royalty amount that is more than the threshold amount for paragraph (d).

In this section—

consumer price index means the all groups consumer price index for Brisbane published by the Australian Statistician.

threshold amount—

for the financial year ending 30 June 2011—

for paragraph (a), means $100000; and

for paragraph (b), means $200000; and

for paragraph (c), means $500000; and

for paragraph (d), means $1000000; and

for a later financial year—for paragraphs (a), (b), (c) and (d), means the threshold amount for the particular paragraph for the financial year immediately preceding the later financial year (the previous financial year) increased by the consumer price index for the previous financial year.