Document ID: chunk:federal_register_of_legislation:C2025C00090:section:99g:p1
Version: federal_register_of_legislation:C2025C00090
Segment Type: section
Provision Reference: s 99G (pt 1/2)
Character Range: 450019–452924

99G  Indexation
 (1) An amount referred to in an item in the CPI Indexation Table below is to be indexed under this section in each year on the indexation day in that item, using the reference quarter in that item and rounding to the nearest multiple of 10 cents. However, if the amount is not a multiple of 10 cents but it is a multiple of 5 cents, the amount is to be increased by 5 cents.

CPI INDEXATION TABLE
Item                   Amount                                          Indexation day   Reference quarter
1.                     General patient charge                          1 January        September
2.                     General patient reduced charge                  1 January        September
3.                     Concessional beneficiary charge                 1 January        September
4.                     General patient safety net                      1 January        September
5.                     Increased discounting upper Commonwealth price  1 January        September

Certain charges not to be indexed
 (1A) Despite subsection (1), the general patient charge is not to be indexed on 1 January 2025.
 (1B) Despite subsection (1), the general patient reduced charge and the concessional beneficiary charge are not to be indexed on:
 (a) 1 January 2025; and
 (b) 1 January 2026; and
 (c) 1 January 2027; and
 (d) 1 January 2028; and
 (e) 1 January 2029.

Effect of indexation
 (2) Where an amount is to be indexed on an indexation day, this Act has effect as if the indexed amount were substituted for that amount on that day.
Note: The Department can tell you what the current indexed amounts are.

Working out the indexed amount
 (3) Subject to this section, the indexed amount for an amount to be indexed is worked out using the formula:

where:
Current figure, as at a particular time in relation to an amount to be indexed, means:
 (a) if the amount has not yet been indexed under this section before that time—the amount; and
 (b) if the amount has been indexed under this section before that time—the amount most recently substituted for the amount under this section before that time.
Indexation factor means the figure worked out under subsection (4).
 (4) Subject to subsections (5) and (6), the indexation factor for an amount to be indexed on an indexation day is worked out using the formula:

where:
Most recent index number means the index number for the most recent reference quarter for the amount ending before the indexation day.
Previous index number means the index number for the reference quarter for the amount immediately preceding the most recent reference quarter for the amount ending before the indexation day.
 (5) Subject to subsections (6) and (7), an indexation factor is to be worked out to 3 decimal places.
 (6) If an indexation factor worked out under subsection (5) would, if it were worked out to 4 decimal places, end in