Document ID: chunk:federal_register_of_legislation:C2023C00393:clause:2_67dc:p1
Version: federal_register_of_legislation:C2023C00393
Segment Type: clause
Provision Reference: sch 2 cl 67DC (pt 1/2)
Character Range: 128876–131602

67DC  Indexed estimates
 (1) The Secretary may calculate an indexed estimate for an individual under subsection (5), with a start day chosen by the Secretary, if:
 (a) the individual, or the individual's partner, is a claimant for CCS by fee reduction; and
 (b) a determination is in effect under paragraph 67CC(1)(a) that the claimant is eligible for CCS for a child; and
 (c) information about the adjusted taxable income of the individual needed to make a determination under Division 3 for the claimant is not known; and
 (d) the claimant has given the Secretary an estimate of the amount needed that the Secretary considers to be reasonable.
 (2) If the Secretary calculates an indexed estimate for the individual, the Secretary may give the claimant a notice:
 (a) stating the indexed estimate for the individual; and
 (b) specifying the start day used in the Secretary's calculation (which must be the first day of a CCS fortnight at least 14 days after the day the notice is given).
 (3) The Secretary must not give a notice under subsection (2) stating an indexed estimate for the individual with a start day in an income year if the Secretary has already given a notice under subsection (2) stating an indexed estimate for that individual with a start day in the same income year.
 (4) A notice given to a claimant under subsection (2) stating an indexed estimate for an individual has no effect if, before the start day specified in the notice for the indexed estimate, the Secretary gives the claimant a notice under subsection 67DD(2) stating an indexed actual income for the same individual. Any such notice under subsection 67DD(2) must specify a start day that is no earlier than the start day specified in the superseded notice.
 (5) Calculate an indexed estimate (which may be nil) for the individual by multiplying the individual's current ATI number (see subsection (6)) by the indexation factor, rounding the result to the nearest dollar and rounding 50 cents upwards. The indexation factor is the greater of 1 and the factor worked out to 3 decimal places as follows (increasing the factor by 0.001 if it would, if worked out to 4 decimal places, end in a number greater than 4):
where:
AWE means the amount published by the Australian Statistician in a document titled "Average Weekly Earnings" under the headings "Average Weekly Earnings, Australia—Original—Persons—All employees total earnings" (or, if any of those change, in a replacement document or under replacement headings).
highest previous November means the November in which, of all the Novembers from November 2004 to the November before the most recent November (inclusive), AWE was the highest.
most recent November means the November of