Document ID: chunk:federal_register_of_legislation:C2010C00246:clause:2_198h:p1
Version: federal_register_of_legislation:C2010C00246
Segment Type: clause
Provision Reference: sch 2 cl 198H (pt 1/4)
Character Range: 50509–53347

198H  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 198G that is indexed under Division 18 of Part IIIB or under section 198, 198A, 198D or 198F; or
 (b) the amount described in section 198GA; or
 (c) a maximum basic rate provided for in point SCH6‑B1; or
 (d) a pension supplement provided for in point SCH6‑BA2; or
 (e) an amount provided for in paragraph 30(1)(a); or
 (f) a pension supplement provided for in subsection 30(1A);
this section applies to modify the way the amount is indexed under that Division or section (as the case may be) 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 (6) to (8), using:

                (a) for an affected amount described in the table in section 198G—the rounding base set out in that table for that amount; and
                (b) for the amount described in section 198GA—the rounding base of $5.20; and
                (c) for a maximum basic rate provided for in point SCH6‑B1—the rounding base of $2.60; and
                (d) for a pension supplement provided for in point SCH6‑BA2—the rounding base of $0.10; and
                (e) for an amount provided for in paragraph 30(1)(a)—the rounding base of $0.10; and
                (f) for a pension supplement provided for in subsection 30(1A)—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 59C(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 (6) to (8) (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 5