Document ID: chunk:federal_register_of_legislation:F2025C00076:reg:98
Version: federal_register_of_legislation:F2025C00076
Segment Type: reg
Provision Reference: reg 98
Character Range: 121816–123125

98  Indexation of maximum retention amounts
 (1) If, for a financial year beginning on or after 1 July 2014, the latest CPI number is more than the earlier CPI number, each indexable amount is increased on 1 July of the next financial year, in accordance with the following formula:
Note 1: CPI number, earlier CPI number, indexable amount and latest CPI number are defined in section 4.
Note 2: The first increase of each indexable amount is on 1 July 2015.
 (2) If, apart from this subsection, an indexable amount increased under this section would not be a multiple of $60, the amount is rounded to the nearest multiple of $60 (rounding $30 upwards).
 (3) If, at any time (whether before or after the commencement of these principles), the Australian Statistician publishes a CPI number in substitution for a CPI number previously published, the publication of the later CPI number is to be disregarded for this section.
 (4) However, if, at any time (whether before or after the commencement of these principles) the Australian Statistician changes the index reference period for the Consumer Price Index, then, in applying this section after the change is made, regard is to be had only to numbers published in terms of the new index reference period.

Subdivision D—Restriction on deduction of amounts