Document ID: chunk:federal_register_of_legislation:F2024C01158:reg:4:p13
Version: federal_register_of_legislation:F2024C01158
Segment Type: reg
Provision Reference: reg 4 (pt 13/32)
Character Range: 81256–84106

weekly ordinary time earnings published by the Australian Statistician for February 2008 and in effect on 1 July 2008.
                   Note: This is the amount of the average weekly ordinary time earnings, seasonally adjusted, for full‑time adult employees of all employers in Australia for that day.
Step 2             Divide it by the assessment of current average weekly ordinary time earnings published by the Australian Statistician for May 2007 and in effect on 27 August 2007.
                   Note: This is the amount of the average weekly ordinary time earnings, seasonally adjusted, for full‑time adult employees of all employers in Australia for that day.
Step 3             Round the result to 3 decimal places. If the fourth decimal place is 5 or above, round it up.
                   If the rounded result is less than 1, the rounded result becomes 1.
                   Multiply $100 000 by the rounded result.
                   If the result is not a multiple of $100, round the result to the nearest multiple of $100. If the result is a multiple of $50, round it up to the next multiple of $100.
                   This result will be indexed again in step 6.
Second indexation
Step 4             Identify the assessment of current average weekly ordinary time earnings published by the Australian Statistician for February 2009 and in effect on 1 July 2009.
                   Note: This is the amount of the average weekly ordinary time earnings, seasonally adjusted, for full‑time adult employees of all employers in Australia for that day.
Step 5             Divide it by the assessment of current average weekly ordinary time earnings published by the Australian Statistician for February 2008 and in effect on 1 July 2008.
                   Note: This is the amount of the average weekly ordinary time earnings, seasonally adjusted, for full‑time adult employees of all employers in Australia for that day.
Step 6             Round the result to 3 decimal places. If the fourth decimal place is 5 or above, round it up.
                   If the rounded result is less than 1, the rounded result becomes 1.
                   Multiply the amount worked out in step 3 by the rounded result.
                   If the result is not a multiple of $100, round the result to the nearest multiple of $100. If the result is a multiple of $50, round it up to the next multiple of $100.
                   The result is the high income threshold for the period starting on 1 July 2009 and ending at the end of 30 June 2010.

 (3) The high income threshold for the year starting on 1 July 2010, or a later year starting on 1 July, is the threshold for the previous year, indexed using the following steps.

Step 1  Identify the assessment of current average weekly ordinary time earnings published by the Australian Statistician