Document ID: chunk:federal_register_of_legislation:C2009A00060:clause:5_1206gi
Version: federal_register_of_legislation:C2009A00060
Segment Type: clause
Provision Reference: sch 5 cl 1206GI
Character Range: 94176–95085

1206GI  Increase of 1.8% on 1 July 2012
  This Act has effect as if, on 1 July 2012, the base amount were replaced by an amount (the replacement amount) worked out by:
 (a) calculating the amount (the provisional replacement amount) that is 1.8% greater than the base amount; and
 (b) if the provisional replacement amount is not a multiple of the rounding base for the base amount, rounding up or down to the nearest multiple of the rounding base (rounding up if the provisional replacement amount is not a multiple of the rounding base but is a multiple of half the rounding base).
Note: The 1.8% increase includes the Carbon Pollution Reduction Scheme's estimated cost of living increase of 0.8% for the 2012‑2013 financial year, which has also been brought forward. The change to the indexation factor on or after 20 March 2013 under section 1206GM takes account of this second brought forward increase.