Document ID: chunk:federal_register_of_legislation:C2012A00026:clause:1_3:p2
Version: federal_register_of_legislation:C2012A00026
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 2/2)
Character Range: 20630–21899

its indexation factor mentioned in subsection (5); and
 (b) next, rounding the result in paragraph (a) down to the nearest multiple of $1,000.
Example 1: If the amount to be indexed is $90,000 and the indexation factor increases this to an indexed amount of $90,500, the indexed amount is rounded back down to $90,000.
Example 2: If the amount to be indexed is $120,000 and the indexation factor increases this to an indexed amount of $121,500, the indexed amount is rounded down to $121,000.
 (3) Do not index the amount if its indexation factor mentioned in subsection (4) or (5) is 1 or less.

Indexation factor
 (4) For indexation of the amount on an annual basis in accordance with subparagraph (2)(a)(i), the indexation factor is:
 (5) For indexation of the amount on an annual basis in accordance with subparagraph (2)(a)(ii), the indexation factor is:
 (6) Work out the *indexation factor mentioned in subsection (4) or (5) to 3 decimal places (rounding up if the fourth decimal place is 5 or more).

Index number
 (7) For calculating the amounts, the index number for a *quarter is the estimate of full‑time adult average weekly ordinary time earnings for the middle month of the quarter first published by the Australian Statistician in respect of that month.