Document ID: chunk:federal_register_of_legislation:C2010C00246:clause:2_198k
Version: federal_register_of_legislation:C2010C00246
Segment Type: clause
Provision Reference: sch 2 cl 198K
Character Range: 60622–61389

198K  1 July 2000 increase in assets test free area

 (1) This section applies to an amount (the base amount) that is provided for in:
 (a) item 1 or 2 of column 3A of the table in point SCH6‑F3; or
 (b) item 2 of column 3B of the table in point SCH6‑F3.

 (2) This Act has effect as if, on 1 July 2000, the base amount were replaced by an amount (the replacement amount) worked out by:
 (a) calculating the amount (the provisional replacement amount) that is 2.5% greater than the base amount; and
 (b) rounding off the provisional replacement amount in accordance with section 198M, using a rounding base of $250.00.

 (3) For the purposes of subsection (1), the base amount is to include any indexation that occurs on 1 July 2000 under Division 18 of Part IIIB.