Document ID: chunk:federal_register_of_legislation:C2023A00085:section:10
Version: federal_register_of_legislation:C2023A00085
Segment Type: section
Provision Reference: s 10
Character Range: 4228–5615

10  Indexation of charge cap amount
 (1)  The dollar amount specified in section 9 is a charge cap amount.
 (2) On each 1 July after the financial year in which this Act commences (an indexation day), the charge cap amount is replaced by an amount worked out using the following formula:
 (3) The indexation factor for an indexation day is the number worked out using the following formula:
where:
CPI quarter means a period of 3 months ending on 31 March, 30 June, 30 September or 31 December.
index number means the All Groups Consumer Price Index number (being the weighted average of the 8 capital cities) published by the Australian Statistician.
 (4) An indexation factor is to be calculated to 3 decimal places (rounding up if the fourth decimal place is 5 or more).
 (5) An indexation factor that is less than 1 is to be increased to 1.
 (6) Amounts worked out under subsection (2) are to be rounded to the nearest whole dollar (rounding 50 cents upwards).
 (7) Calculations under subsection (3):
 (a) are to be made using only the index numbers published in terms of the most recently published index reference period; and
 (b) are to be made disregarding index numbers that are published in substitution for previously published index numbers (except where the substituted numbers are published to take account of changes in the index reference period).

Part 3—Regulations