Document ID: chunk:federal_register_of_legislation:C2010C00246:clause:1_1206gb:p1
Version: federal_register_of_legislation:C2010C00246
Segment Type: clause
Provision Reference: sch 1 cl 1206GB (pt 1/3)
Character Range: 25947–28787

1206GB  Adjustment of amounts following 1 July 2000 increase

 (1) If an amount (the affected amount) is:
 (a) an amount described in the table in section 1206GA or in the table in section 1206GAA that is indexed under Division 2 of this Part; or
 (b) a maximum basic rate provided for in point 1064‑B1, 1065‑B1, 1066‑B1 or 1068A‑B1; or
 (c) a pension supplement provided for in point 1064‑BA2, 1065‑BA2, 1066‑BA2 or 1068A‑BA2;
this section applies to modify the way the amount is indexed under Division 2 of this Part for a limited period after 19 March 2001.

      Method statement
           Step 1. Work out the current figure for the affected amount on 19 March 2001.
           Step 2. Multiply the current figure by 0.02. The result is the provisional overall adjustment amount.
           Step 3. Round off the provisional overall adjustment amount in accordance with subsections (3) to (5), using:

                (a) for an affected amount described in the table in section 1206GA or in the table in section 1206GAA—the rounding base set out in that table for that amount; and
                (b) for a maximum basic rate provided for in point 1064‑B1, 1065‑B1, 1066‑B1 or 1068A‑B1—the rounding base of $2.60; and
                (c) for a pension supplement provided for in point 1064‑BA2, 1065‑BA2, 1066‑BA2 or 1068A‑BA2—the rounding base of $0.10.

            The result is the overall adjustment amount.
           Step 4. For the first indexation day for an affected amount that occurs after 19 March 2001, subtract the current figure from the indexed amount (arrived at using the method statement in subsection 1192(2)). The result (which could be zero) is the first indexation increase amount.
           Step 5. Compare the overall adjustment amount with the first indexation increase amount. If the overall adjustment amount is equal to or less than the first indexation increase amount, go to step 6. If the overall adjustment amount is greater than the first indexation increase amount, go to step 9.
           Step 6. Subtract the overall adjustment amount from the indexed amount referred to in step 4.
           Step 7. If the indexed amount is a pension supplement, round off the result in accordance with subsections (3) to (5) (as if the amount were a provisional overall adjustment amount), using the rounding base of $2.60.
           Step 8. The result obtained under step 6 or step 7 (as the case requires) is taken to be the indexed amount for the purposes of step 4 of the method statement in subsection 1192(2) and this section has no further application in relation to the affected amount.
                  Note: The indexed amount for the purposes of step 4 of the method statement in subsection 1192(2) may be increased under section 1195 in certain cases.
           Step 9. The indexed amount