Document ID: chunk:federal_register_of_legislation:C2024C00818:clause:1_38:p1
Version: federal_register_of_legislation:C2024C00818
Segment Type: clause
Provision Reference: sch 1 cl 38 (pt 1/11)
Character Range: 317876–320857

38  Transfer years that start before 1 July 2019—expenditure incurred in a GDP expenditure year
  If:
 (aa) the transfer year starts before 1 July 2019; and
 (ab) the financial year in which the expenditure was incurred (the expenditure year) is a GDP expenditure year in relation to the project;
the following provisions apply:
 (a) work out, in relation to the expenditure year and each later financial year ending before the transfer year, an amount in accordance with the formula:

  where:
  Transferred amount means:
 (i) in making the calculation in relation to the expenditure year—the amount of expenditure actually transferred; and
 (ii) in making the calculation in relation to a later financial year—the amount calculated under this paragraph in relation to the expenditure and the immediately preceding financial year;
  GDP factor means the GDP factor in relation to the financial year in relation to which the calculation is being made;
 (b) for the purposes of subsection 45D(2), the transfer is taken to be of the amount worked out under paragraph (a) in relation to the expenditure and the financial year immediately before the transfer year.

Endnotes

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