Document ID: chunk:federal_register_of_legislation:C2008A00110:clause:1_5a
Version: federal_register_of_legislation:C2008A00110
Segment Type: clause
Provision Reference: sch 1 cl 5A
Character Range: 2172–3136

5A  What is the singles surcharge threshold?

 (1) The singles surcharge threshold for a person for the 2008‑09 year of income is $70,000. This amount is indexed annually.

Indexation of singles surcharge threshold

 (2) The amount of the singles surcharge threshold is indexed annually by:
 (a) multiplying the singles surcharge threshold for the 2008‑09 year of income by its indexation factor; and
 (b) rounding the result in paragraph (a) down to the nearest multiple of $1,000.

 (3) The singles surcharge threshold is not indexed if its indexation factor is 1 or less.

 (4) The indexation factor is:

 (5) The indexation factor mentioned in subsection (4) is calculated to 3 decimal places (rounding up if the fourth decimal place is 5 or more).

 (6) The index number for a quarter is the estimate of full‑time adult average weekly ordinary time earnings for the middle month of the quarter first published by the Australian Statistician for that month.