Document ID: chunk:federal_register_of_legislation:C2025C00125:section:106pc:p2
Version: federal_register_of_legislation:C2025C00125
Segment Type: section
Provision Reference: s 106PC (pt 2/2)
Character Range: 230677–231878

30 June 1996—$20,000; or
 (b) in the case of a subsequent year of income—the number of whole dollars of the amount worked out by using the formula:

  where:
  AWE is the sum of:
 (i) the average weekly earnings for all employees for the reference period in the December quarter immediately preceding that year of income, as published by the Australian Statistician; and
 (ii) the average weekly earnings for all employees for the reference period in each of the 4 quarters immediately before that December quarter, as published by the Australian Statistician.
 (6) For the purposes of subsection (5), the reference period in a particular quarter in a year is the period described by the Australian Statistician as the pay period ending on or before a specified day that is the third Friday of the middle month of that quarter.
 (7) The Minister must cause to be published in the Gazette:
 (a) as soon as possible after the commencement of this section, the prescribed amount in respect of the year of income ending on 30 June 1996; and
 (b) before the start of each following year of income, the prescribed amount in respect of that year of income.

Division 2—Requirement to discharge indebtedness