Document ID: chunk:federal_register_of_legislation:C2025A00016:clause:3_321a
Version: federal_register_of_legislation:C2025A00016
Segment Type: clause
Provision Reference: sch 3 cl 321A
Character Range: 159730–161513

321A  Indexation of gift cap amounts etc. each calendar year
 (1) This section applies to the dollar amounts specified in the following provisions (each of the amounts is an indexable amount):
 (a) the definition of annual gift cap in section 302B;
 (b) the definition of by‑election gift cap in section 302B;
 (c) the definition of Senate‑only election gift cap in section 302B;
 (d) the definition of third party threshold in subsection 287(1).
 (2) An indexable amount, for an indexation year the indexation factor for which is greater than 1, is replaced by the amount worked out using the following formula:
 (3) A dollar amount worked out for the purposes of subsection (2) is to be rounded to the nearest $100 (rounding $50 or more upwards).
 (4) The indexation factor for an indexation year is the number worked out using the following formula:
 (5) The indexation factor is to be calculated to 3 decimal places, but increased by 0.001 if the fourth decimal place is more than 4.
 (6) Calculations under subsection (4):
 (a) are to be made using only the September quarter index numbers published in terms of the most recently published index reference period for the Consumer Price Index; and
 (b) are to be made disregarding September quarter index numbers that are published in substitution for previously published September quarter index numbers (except where the substituted numbers are published to take account of changes in the index reference period).
 (7) In this section:
indexation year means each calendar year beginning on 1 January.
September quarter index number means the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, published by the Australian Statistician in respect of the 3 months ending on 30 September.