Document ID: chunk:federal_register_of_legislation:C2009A00060:clause:3_8
Version: federal_register_of_legislation:C2009A00060
Segment Type: clause
Provision Reference: sch 3 cl 8
Character Range: 28859–30602

8  Subsection 1195(2)
Repeal the subsection, substitute:
 (2) If:
 (a) a category A amount is to be indexed under this Division on an indexation day; and
 (b) 25% of the annualised MTAWE figure for whichever of the following quarters is applicable:
 (i) if the indexation day is a 20 March—the most recent December quarter;
 (ii) if the indexation day is a 20 September—the most recent June quarter;
  exceeds the indexed amount for the category A amount;
then:
 (c) the indexed amount for the category A amount is to be increased by an amount equal to the excess; and
 (d) if the indexed amount for the category A amount (as increased under paragraph (c)) is not a multiple of $2.60, the indexed amount (as increased under paragraph (c)) is to be further increased by rounding up to the next highest multiple of $2.60.
 (2A) If:
 (a) a category B amount is to be indexed under this Division on an indexation day; and
 (b) 50% of the combined couple benchmark for that indexation day exceeds the indexed amount for the category B amount;
then:
 (c) the indexed amount for the category B amount is to be increased by an amount equal to the excess; and
 (d) if the indexed amount for the category B amount (as increased under paragraph (c)) is not a multiple of $2.60, the indexed amount (as increased under paragraph (c)) is to be further increased by rounding up to the next highest multiple of $2.60.
 (2B) For the purposes of this section, the combined couple benchmark, for an indexation day, is 41.76% of the annualised MTAWE figure for whichever of the following quarters is applicable:
 (a) if the indexation day is a 20 March—the most recent December quarter;
 (b) if the indexation day is a 20 September—the most recent June quarter.