Document ID: chunk:federal_register_of_legislation:F2025C00171:reg:8:p1
Version: federal_register_of_legislation:F2025C00171
Segment Type: reg
Provision Reference: reg 8 (pt 1/2)
Character Range: 6008–8819

8  How the estimated factor has been worked out
        1.     Under subsection 8(1) of the Act, the factor in relation to the 2023‑24 year is to be worked out by applying the formula set out in paragraph 8(1)(a) of the Act and then adjusting the result under whichever of paragraphs 8(1)(b) and (c) of the Act are applicable.
 (2) The factor calculated under paragraph 8(1)(a) of the Act is as follows:

Note 1: Under section 4A, the Statistician made the estimate of the population of Australia as at 31 December 2022 on 15 June 2023 (published and available at www.abs.gov.au).
Note 2: Under section 4A, the Statistician made the estimate of the population of Australia as at 31 December 2021 on 15 June 2023 (published and available at www.abs.gov.au).
Note 3: The formula uses the 2023-24 Budget forecast of the Department of the Treasury of the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, in respect of the 2024 March quarter.
Note 4: The formula uses the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, published on 26 April 2023 by the Statistician in respect of the 2023 March quarter (published and available at www.abs.gov.au).

Paragraph 8(1)(c) modification
 (3) The result of subsection (2) was modified under paragraph 8(1)(c) of the Act as a result of special circumstances, being the need to account for the Commonwealth's decision to bring forward all of the payments in the 2023‑24 year into the 2022-23 year.  The modification was worked out by multiplying the result of subsection (2) by the following formula:

Where:
2022-23 amount means all of the payments that were brought forward from the year 2023-24 to be paid in the year 2022-23.
2023-24 amount means the amount that would have been the base figure for the year 2023-24 if the Commonwealth had not decided to bring forward any payments.
2022-23 final entitlement means the base figure for the year 2022-23.
sub (2) factor means the result of subsection (2).

Endnotes

Endnote 1—About the endnotes
The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history

Abbreviation key—Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional