Document ID: chunk:federal_register_of_legislation:C2023C00380:clause:1_584c
Version: federal_register_of_legislation:C2023C00380
Segment Type: clause
Provision Reference: sch 1 cl 584C
Character Range: 83704–85197

584C  Rounding off instalment

Fraction of a cent
 (1) If the amount of an instalment includes a fraction of a cent, the amount is to be rounded to the nearest whole cent (0.5 cent being rounded upwards).

Amount increased to fortnightly PA rate
 (2) If:
 (a) an amount of pharmaceutical allowance is added to a person's maximum basic rate in working out the amount of an instalment of austudy payment; and
 (b) apart from this subsection, the amount of the instalment would be less than the person's fortnightly PA rate;
the amount of the instalment is to be increased to the person's fortnightly PA rate.

Fortnightly PA rate
 (3) For the purposes of subsection (2), the person's fortnightly PA rate is the rate worked out by using the formula:

where:
N means whichever of the following applies:
 (a) if the instalment is for a number of whole fortnights—the number of fortnights;
 (b) if the instalment is for a period of less than a fortnight—the number worked out by using the formula:

 (c) if the instalment is for a period that consists of a number of whole fortnights and a period of less than a fortnight—the number worked out by using the formula:
pharmaceutical allowance rate means the fortnightly amount of pharmaceutical allowance added to the person's maximum basic rate in working out the amount of the instalment.

Amount increased to $1.00
 (4) If, apart from this section, the amount of an instalment would be less than $1.00, the amount is to be increased to $1.00.