Document ID: chunk:federal_register_of_legislation:C2024C00866:section:198:p2
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 198 (pt 2/3)
Character Range: 1827235–1829851

a relevant period, in accordance with subsection (5) is greater than 1, this Act has effect as if for each relevant rate there were substituted, on the first day of that period:
 (a) subject to the other paragraphs of this subsection—a rate calculated by multiplying by that factor:
 (i) in the case to which subparagraph (ii) does not apply—the relevant rate; or
 (ii) if, by virtue of another application or several other applications of this section, this Act has had effect as if another rate were substituted, or other rates were successively substituted, for the relevant rate—the substituted rate or the last substituted rate, as the case may be;
 (b) where a relevant rate calculated in accordance with paragraph (a) (in this paragraph referred to as the calculated rate) is a rate per fortnight and is not a multiple of $0.10 per fortnight—a rate equal to:
 (i) if the calculated rate exceeds the next lower rate that is such a multiple by $0.05 per fortnight or more—the next higher rate that is such a multiple; or
 (ii) if the calculated rate exceeds the next lower rate that is such a multiple by less than $0.05 per fortnight—the next lower rate.
Note: For indexation of each above general rate, see subsection (5E).
 (5) The factor to be ascertained for the purposes of subsection (4) in relation to a relevant period:
 (a) is the number, calculated to 3 decimal places, ascertained by dividing:
 (i) if the relevant period starts between 1 January and 30 June (inclusive)—the index number for the last preceding December quarter; or
 (ii) if the relevant period starts between 1 July and 31 December (inclusive)—the index number for the last preceding June quarter;
  by the highest index number in respect of a December or June quarter that preceded that quarter, not being a December or June quarter that occurred before the June quarter in the year 1979; or
 (b) if the number so ascertained would, if it were calculated to 4 decimal places, end in a number greater than 4—is the number so ascertained increased by 0.001; or
 (c) if the relevant period starts on or after 20 March 2013 and the brought‑forward CPI indexation amount for the period is more than 0—is the number worked out under paragraph (a) or (b) of this subsection reduced by that amount, but not below 1.

Indexation of general rate
 (5DA) This Act has effect as if, on each adjustment day, there were substituted, for the general rate, the rate worked out using the following formula and rounded up to the nearest $0.10:

Indexation of each above general rate
 (5E) This Act has effect as if, on each adjustment day, there were