Document ID: chunk:federal_register_of_legislation:C2024C00583:clause:4_4
Version: federal_register_of_legislation:C2024C00583
Segment Type: clause
Provision Reference: sch 4 cl 4
Character Range: 526910–527683

4  Indexation of amounts
 (1) If an amount is to be indexed under this Part on an indexation day, this Act has effect as if the indexed amount were substituted for that amount on that day.
 (2) This is how to work out the indexed amount for an amount that is to be indexed under this Part on an indexation day:

      Method statement
           Step 1. Use clause 5 to work out the indexation factor for the amount on the indexation day.
           Step 2. Work out the current figure for the amount immediately before the indexation day.
           Step 3. Multiply the current figure by the indexation factor: the result is the provisional indexed amount.
           Step 4 . Use clause 6 to round off the provisional indexed amount: the result is the indexed amount.