Document ID: chunk:federal_register_of_legislation:C2020A00048:section:16:p1
Version: federal_register_of_legislation:C2020A00048
Segment Type: section
Provision Reference: s 16 (pt 1/2)
Character Range: 13557–16302

16  Administrative cost component
 (1) For the purposes of this Act, the administrative cost component for a month in the first eligible financial year is:
 (a) $0.01; or
 (b) if another amount is determined under subsection (8) in relation to that month—that other amount.
 (2) For the purposes of this Act, the administrative cost component for a month in the second eligible financial year is:
 (a) $0.00172; or
 (b) if another amount is determined under subsection (8) in relation to that month—that other amount.
 (3) For the purposes of this Act, the administrative cost component for a month in the third eligible financial year is:
 (a) $0.00; or
 (b) if another amount is determined under subsection (8) in relation to that month—that other amount.
 (4) For the purposes of this Act, the administrative cost component for a month in the fourth eligible financial year is:
 (a) $0.0027; or
 (b) if another amount is determined under subsection (8) in relation to that month—that other amount.
 (5) For the purposes of this Act, the administrative cost component for a month in the fifth eligible financial year is:
 (a) $0.00; or
 (b) if another amount is determined under subsection (8) in relation to that month—that other amount.
 (6) For the purposes of this Act, the administrative cost component for a month in:
 (a) the sixth eligible financial year; or
 (b) a later financial year;
is:
 (c) the amount calculated, to 5 decimal places (rounding up if the sixth decimal place is 5 or more), using the formula in subsection (7); or
 (d) if another amount is determined under subsection (8) in relation to that month—that other amount.
 (7) The formula mentioned in paragraph (6)(c) is:
where:
indexation factor means the indexation factor for the financial year.
previous administrative cost component means the administrative cost component for a month in the previous financial year.

Determinations
 (8) The Minister may, by legislative instrument:
 (a) for the purposes of paragraph (1)(b), determine a single specified amount in relation to each of the months in the first eligible financial year; or
 (b) for the purposes of paragraph (2)(b), determine a single specified amount in relation to each of the months in the second eligible financial year; or
 (c) for the purposes of paragraph (3)(b), determine a single specified amount in relation to each of the months in the third eligible financial year; or
 (d) for the purposes of paragraph (4)(b), determine a single specified amount in relation to each of the months in the fourth eligible financial year; or
 (e) for the purposes of paragraph (5)(b), determine a single specified amount in relation to each of the months in the fifth eligible financial year; or
 (f) for