Document ID: chunk:federal_register_of_legislation:C2004C00357:clause:3_180
Version: federal_register_of_legislation:C2004C00357
Segment Type: clause
Provision Reference: sch 3 cl 180
Character Range: 119931–121091

180

 (1) Section 13 of the Principal Act is repealed and the following section is substituted:

       13  Incentive grant entitlements

  Subject to this Act, the incentive grant entitlement of a claimant in relation to a grant year is an amount equal to:
 (a) where his export earnings increment for that year does not exceed $500,000—7.5% of that increment;
 (b) where his export earnings increment for that year exceeds $500,000 but does not exceed $5,000,000—the sum of $37,500 and an amount equal to 5% of the difference between that increment and $500,000;
 (c) where his export earnings increment for that year exceeds $5,000,000 but does not exceed $10,000,000—the sum of $262,500 and an amount equal to 2.5% of the difference between that increment and $5,000,000; or
 (d) where his export earnings increment for that year exceeds $10,000,000—the sum of $387,500 and an amount equal to 1.25% of the difference between that increment and $10,000,000.

 (2) The amendment made by subsection (1) applies in respect of the grant year commencing on 1 July 1982 and section 13 of the Principal Act continues to apply in respect of earlier grant years.