Document ID: chunk:federal_register_of_legislation:C2009A00060:clause:5_1206gl
Version: federal_register_of_legislation:C2009A00060
Segment Type: clause
Provision Reference: sch 5 cl 1206GL
Character Range: 96868–98314

1206GL  Special rules for indexation of some amounts on or after 20 March 2012
 (1) An indexation factor worked out under section 1193 for each indexation day that is:
 (a) for AP MBR and YA MBR—on or after 1 January 2013; or
 (b) for any other base amount to which Subdivision B applies—on or after 20 March 2012;
is to be reduced by the brought forward indexation amount, but not below 1.
 (2) In this section:
brought forward indexation amount, in relation to a day, means 0.004 less any reduction made under this section for a previous day.
Note: Once the brought forward indexation amount becomes zero, there will be no further reduction of the factor.
Example: Assume that the indexation factor worked out under section 1193 on 20 March 2012 is 1.003. The brought forward indexation amount in relation to 20 March 2012 is 0.004 (as there has been no previous reduction). That indexation factor is reduced to 1 on 20 March 2012.
 Further assume that on 20 September 2012 the indexation factor is 1.010. The brought forward indexation amount in relation to 20 September 2012 is 0.001. That indexation factor is reduced to 1.009 on 20 September 2012.
 The brought forward indexation amount in relation to later indexation days is now zero so there is no further reduction of the indexation factor.
 (3) This section affects the rate of a social security payment for a person if, and only if, section 1206GH affected that rate for the person.