a factor to index Financial Supplement debts and accumulated Financial Supplement debts
Reference: OPS 2005/SFSS
Document type: Legislative Instrument
Enabling act: Student Assistance Act 1973
Date of issue: 11 May 2005
Signatory: (Erin Kathleen Holland) Deputy Commissioner of Taxation
Registration number: F2005L01174
Registration date: 16 May 2005


Citation | This instrument may be cited as a factor to index Financial Supplement debts and accumulated Financial Supplement debts. | Commencement | This Instrument commences on 1 June 2005. | Application | In accordance with subsection 12ZF(6) of the Student Assistance Act 1973 , the indexation factor is the number worked out to three decimal places using the formula: the sum of the index number for the March 2005 quarter and the index numbers for the 3 immediately preceding quarters divided by the sum of the index number for the March 2004 quarter and the index numbers for the 3 immediately preceding quarters, where index number, in relation to a quarter, means the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, published by the Australian Statistician in respect of that quarter. | Indexation factor for 1 June 2005: | = Mar05+Dec04+Sep04+Jun04 / Mar04+Dec03+Sep03+Jun03 = 147.5 + 146.5 + 145.4 + 144.8 / 144.1 + 142.8 + 142.1 + 141.3 = 584.2 / 570.3 = 1.024 (to 3 decimal places) The indexation factor is 1.024 and the effective percentage increase is 2.4%. | = Mar05+Dec04+Sep04+Jun04 / Mar04+Dec03+Sep03+Jun03 = 147.5 + 146.5 + 145.4 + 144.8 / 144.1 + 142.8 + 142.1 + 141.3 = 584.2 / 570.3 = 1.024 (to 3 decimal places) The indexation factor is 1.024 and the effective percentage increase is 2.4%. | The indexation factor is 1.024 and the effective percentage increase is 2.4%.