Homes Tasmania Act 2022

For the purposes of the definition of adjustment rate in section 54, the rate for a year is the ratio between – the Consumer Price Index: All Groups Index for Hobart published by the Australian Statistician under the authority of the Census and Statistics Act 1905 of the Commonwealth for the March quarter of that year; and the Consumer Price Index: All Groups Index for Hobart for the March quarter of the previous year.

If the rate for a year calculated in accordance with this section is 1, there is taken to be no adjustment rate for that year.

If, under subsection (2), there is taken to be no adjustment rate for a year, then, for the purposes of calculating the adjustment rate for the next year, the Consumer Price Index: All Groups Index for Hobart for the March quarter of the last year for which there was an adjustment rate is taken also to be the Consumer Price Index: All Groups Index for Hobart for the March quarter of the first-mentioned year.

If at any time, whether before or after the commencement of this section, the Australian Statistician has published for the March quarter of a year an index in substitution for the Consumer Price Index: All Groups Index for Hobart for the March quarter previously published by the Australian Statistician in respect of that year – if the Minister so directs, regard is to be had to the later index for the purposes of this section; or if the Minister does not so direct, the publication of the later index is to be disregarded for the purposes of this section.