Document ID: chunk:federal_register_of_legislation:C2024C00866:section:198k
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 198K
Character Range: 1860289–1861052

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.