Document ID: chunk:federal_register_of_legislation:F2024C01285:reg:28zaa
Version: federal_register_of_legislation:F2024C01285
Segment Type: reg
Provision Reference: reg 28ZAA
Character Range: 77224–78539

28ZAA  Indexing relevant amounts
 (1) The amount mentioned in paragraph 28ZA(5)(b) is to be indexed on the first day of each financial year, starting on 1 July 2029, by multiplying it by its indexation factor for 1 June in the preceding financial year.
 (2) The indexation factor for 1 June in a financial year is the number worked out as follows:

      Method statement
           Step 1. Add:

                (a) the index number for the quarter ending on 31 March in that financial year; and
                (b) the index numbers for the 3 quarters that immediately preceded that quarter.

           Step 2. Add:

                (a) the index number for the quarter ending on 31 March in the immediately preceding financial year; and
                (b) the index numbers for the 3 quarters that immediately preceded that quarter.

           Step 3. The indexation factor for 1 June in the financial year is the amount under step 1 divided by the amount under step 2.
 (3) The indexation factor is to be worked out to 3 decimal places, rounding up if the fourth decimal place is 5 or more.
 (4) The amount mentioned in paragraph 28ZA(5)(b), after indexation, must be rounded to the nearest whole dollar, and, if the amount to be rounded is 50 cents, rounded down.

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