Document ID: chunk:federal_register_of_legislation:C2004A00825:clause:1_12
Version: federal_register_of_legislation:C2004A00825
Segment Type: clause
Provision Reference: sch 1 cl 12
Character Range: 6456–7432

12  Subsection 4(3B)
Repeal the subsection, substitute:

 (3B) In subsection (3):

prescribed percentage, in relation to a person who has held office as Governor‑General, means the percentage worked out in accordance with the formula:
where:

SAt means the amount worked out in accordance with the formula:
where:

basic rate has the meaning given by section 2A.

BR1 is the basic rate at the time when the prescribed percentage is first calculated, and BR2, BR3 etc. have corresponding meanings for any later time when the prescribed percentage is calculated.

SA1 is the surcharge adjustment at the time when the prescribed percentage is first calculated, and SA2, SA3 etc. have corresponding meanings for any later time when the prescribed percentage is calculated.

surcharge adjustment means the amount obtained by dividing the person's surcharge deduction amount by the conversion factor applicable to the person under the determination referred to in subsection (3C).