Document ID: chunk:federal_register_of_legislation:C2018A00143:clause:1_6
Version: federal_register_of_legislation:C2018A00143
Segment Type: clause
Provision Reference: sch 1 cl 6
Character Range: 10848–12398

6                               the 2025‑26 payment year or a later payment year     the sum of:
                                                                                     (a) $850 million; and
                                                                                     (b) the first indexation amount for that payment year; and
                                                                                     (c) the second indexation amount for that payment year

 (2) The first indexation amount for a payment year (the current year) is the greater of:
 (a) the amount worked out using the formula in subsection (3); and
 (b) if the current year is the 2023‑24 payment year or a later payment year—the first indexation amount for the last payment year before the current year; and
 (c) otherwise—$0.
 (3) The formula for paragraph (2)(a) is:
where:
GST revenue for current year is the GST revenue for the current year.
GST revenue for 2021‑22 is the GST revenue for the 2021‑22 payment year.
 (4) The second indexation amount for a payment year (the current year) is the greater of:
 (a) the amount worked out using the formula in subsection (5); and
 (b) if the current year is the 2026‑27 payment year or a later payment year—the second indexation amount for the last payment year before the current year; and
 (c) otherwise—$0.
 (5) The formula for paragraph (4)(a) is:
where:
GST revenue for current year is the GST revenue for the current year.
GST revenue for 2024‑25 is the GST revenue for the 2024‑25 payment year.