Document ID: chunk:federal_register_of_legislation:C2010C00246:clause:2_198l
Version: federal_register_of_legislation:C2010C00246
Segment Type: clause
Provision Reference: sch 2 cl 198L
Character Range: 61389–61944

198L  1 July 2000 increase in income/assets reduction limit

 (1) This section applies to an amount (the base amount) that is provided for in column 3 or 5 of the table in subsection 53E(2).

 (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 $2.60.