Annual adjustment of determined amount
232C Annual adjustment of determined amount
An amount fixed in a determination under section 232B(1)(a) or (b) may be adjusted, for each financial year that follows the financial year in which the determination is made, by the sum of the published consumer price index numbers for the consecutive reference periods in the period—
commencing on 1 January in the financial year 2 years earlier than the financial year in respect of which the adjustment is being made; and
ending on the next following 31 December in the financial year immediately preceding the financial year in respect of which the adjustment is being made.
S. 232C(2) amended by No. 42/2021 s. 141.
For the purposes of subsection (1), the published consumer price index numbers for the consecutive reference periods are the numbers last published by the Australian Bureau of Statistics as at 15 April immediately preceding the financial year in respect of which the adjustment is being made.
S. 232D inserted by No. 23/2019 s. 83.
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