Document ID: chunk:federal_register_of_legislation:C2022A00014:clause:5_1
Version: federal_register_of_legislation:C2022A00014
Segment Type: clause
Provision Reference: sch 5 cl 1
Character Range: 93063–93494

1  At the end of section 45‑405 in Schedule 1
Add:

Reduced GDP adjustment for 2022‑23 income year
 (9) Despite subsections (3) and (6), if the current year is the 2022‑23 income year, then for the purposes of the formula in subsection (2) the GDP adjustment is 2%.
Note: This subsection will be repealed on 1 July 2027: see Part 2 of Schedule 5 to the Treasury Laws Amendment (Cost of Living Support and Other Measures) Act 2022.