CPI adjustment
28 CPI adjustment
If a sum of money fixed by this Act at the time of enactment is followed by the word "(indexed)", that signifies—
that the amount is to be adjusted as at
1 January 2015 so that the adjusted sum bears to the amount fixed by Parliament the same proportion as the Consumer Price Index for the September quarter 2014 bears to the Consumer Price Index for the September quarter 2013; and
that the amount is to be adjusted as at 1 January in each subsequent year so that the adjusted sum bears to the amount fixed by the
Parliament the same proportion as the Consumer Price Index for the September quarter of the immediately preceding financial year bears to the Consumer Price
Index for the September quarter 2013.
An amount determined under subclause (1) will be rounded up to the nearest dollar.
Subclauses (1) and (2) apply to a sum fixed by a provision that has not come into operation on 1 January 2015 so that when the provision comes into operation then the sum as adjusted will apply.
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