Document ID: chunk:federal_register_of_legislation:F2021L01831:reg:9
Version: federal_register_of_legislation:F2021L01831
Segment Type: reg
Provision Reference: reg 9
Character Range: 7807–9334

9  Indexation of certain dollar amounts
 (1) A dollar amount specified in column 2 of an item in the table in subsection 8(1) is an indexed amount.
 (2) On 1 July 2022 and each subsequent 1 July (an indexation day), each indexed amount is replaced by an amount worked out using the following formula:
 (3) The indexation factor for an indexation day is the number worked out using the following formula:
where:
base quarter means the March quarter ending 1 year before the reference quarter ends.
index number, for a quarter, means the All Groups Consumer Price Index number (being the weighted average of the 8 capital cities) published by the Australian Statistician for that quarter.
March quarter means a period of 3 months ending on 31 March.
reference quarter means the March quarter immediately before the indexation day.
 (4) An indexation factor is to be calculated to 3 decimal places (rounding up if the fourth decimal place is 5 or more).
 (5) An indexation factor that is less than 1 is to be increased to 1.
 (6) Amounts worked out under subsection (2) are to be rounded to the nearest whole dollar (rounding 50 cents upwards).
 (7) Calculations under subsection (3) are to be made:
 (a) using only the index numbers published in terms of the most recently published index reference period; and
 (b) disregarding index numbers that are published in substitution for previously published index numbers (except where the substituted numbers are published to take account of changes in the index reference period).