Document ID: chunk:federal_register_of_legislation:F2022C00514:clause:4a_2
Version: federal_register_of_legislation:F2022C00514
Segment Type: clause
Provision Reference: sch 4A cl 2
Character Range: 241091–242814

2  Calculating increase in the notional employer benefit in any year
 (1) A person's notional employer benefit is taken to have increased in a financial year (in this item called the relevant year):
 (a) if the all groups consumer price index number for the weighted average of the 8 capital cities published by the Statistician in respect of the March quarter of the year immediately preceding the relevant year exceeds the highest all groups consumer price index number for the weighted average of the 8 capital cities published by the Statistician in respect of the March quarter of any earlier year (except a year earlier than the year that commenced on 1 July 1989); and
 (b) in the circumstances described in paragraph (a)—by an amount equal to the prescribed percentage of the person's notional employer benefit as at the end of the previous financial year.
 (2) The prescribed percentage is A  B, expressed as a percentage of B where:
A is the all groups consumer price index number for the weighted average of the 8 capital cities published by the Statistician in respect of the March quarter of the year immediately preceding the relevant year; and
B is the highest all groups consumer price index number for the weighted average of the 8 capital cities published by the Statistician in respect of the March quarter of any year earlier than the year immediately preceding the relevant year (except a year earlier than the year that commenced on 1 July 1989).
 (3) If the percentage calculated is or includes a fraction of one‑tenth of 1%:
 (a) that is less than one‑half of one‑tenth—the fraction is to be disregarded; and
 (b) that is not less than one‑half of one‑tenth—the fraction is taken to be one‑tenth.