Adjusted deferred amount of growth areas infrastructure contribution
5 Adjusted deferred amount of growth areas infrastructure contribution
Sch. 1 cl. 5(1) amended by Nos 44/2014 s. 33(Sch. item 18(4)), 40/2016 s. 47.
The adjusted deferred amount of growth areas infrastructure contribution for the 2011/2012 financial year and each subsequent financial year is to be determined in accordance with the following formula—
where—
ADA is the adjusted deferred amount of the contribution to be determined, rounded down to the nearest 2 decimal places;
PDA is the deferred amount or the adjusted deferred amount (as the case may be) of the contribution determined in accordance with this clause for the previous financial year;
A is the sum of the consumer price index numbers for—
the last reference period in the financial year 2 years earlier than the financial year in respect of which the adjusted deferred amount is being determined; and
each of the reference periods (other than the last) in the financial year immediately preceding the financial year in respect of which the adjusted deferred amount is being determined;
B is the sum of the consumer price index numbers for—
the last reference period in the financial year 3 years earlier than the financial year in respect of which the adjusted deferred amount is being determined; and
each of the reference periods (other than the last) in the financial year 2 years earlier than the financial year in respect of which the adjusted deferred amount is being determined.
Example to Sch. 1 cl. 5(1) repealed by No. 44/2014 s. 33(Sch. item 18(4)), new example to Sch. 1 cl. 5(1) inserted by No. 40/2016 s. 47(b).
Example
In the case that the reference periods are the quarterly periods of a financial year, the variables for the determination of the adjusted deferred amount for the 2016/2017 financial year are as follows—
• "PDA" is the adjusted deferred amount of the contribution for the 2015/2016 financial year;
• "A" is the sum of the consumer price index numbers for the June quarter in the 2014/2015 financial year and the September, December and March quarters in the 2015/2016 financial year;
• "B" is the sum of the consumer price index numbers for the June quarter in the 2013/2014 financial year and the September, December and March quarters in the 2014/2015 financial year.
The adjusted deferred amount of growth areas infrastructure contribution under subclause (1) is to be rounded up or down to the nearest $10 (and, if the amount by which the contribution to be rounded is $5, is to be rounded up).
Sch. 2 inserted by No. 40/2014 s. 37(2).
Schedule 2—Metropolitan Melbourne
Section 3(1)
Banyule City Council
Bayside City Council
Boroondara City Council
Brimbank City Council
Cardinia Shire Council
Casey City Council
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