Document ID: chunk:federal_register_of_legislation:C2013C00026:clause:3_198mb:p2
Version: federal_register_of_legislation:C2013C00026
Segment Type: clause
Provision Reference: sch 3 cl 198MB (pt 2/2)
Character Range: 179913–181262

the indexation of an amount provided for by paragraph 30(1)(a). This is because that amount is affected by indexation under section 59G, which in turn depends on indexation under section 59C.

Note 3: Once the brought‑forward PBLCI indexation amount becomes 0, there will be no further reduction of the living cost indexation factor.

Example: Assume that the living cost indexation factor worked out under section 59EAB on 20 March 2013 is 1.005. The brought‑forward PBLCI indexation amount in relation to 20 March 2013 is 0.007 (as there has been no previous reduction). That living cost indexation factor is reduced to 1 on 20 March 2013.

 Further assume that on 20 September 2013 the living cost indexation factor is 1.010. The brought‑forward PBLCI indexation amount in relation to 20 September 2013 is 0.002. That living cost indexation factor is reduced to 1.008 on 20 September 2013.

 The brought‑forward PBLCI indexation amount in relation to later indexation days is now 0 so there is no further reduction of the indexation factor.

Definition of brought‑forward PBLCI indexation amount

 (3) In this section:

brought‑forward PBLCI indexation amount for a day means:
 (a) 0.007 less any reduction made under subsection (2) for an earlier day; or
 (b) 0 if the brought‑forward CPI indexation amount for the day under section 198MA is 0.