Document ID: chunk:federal_register_of_legislation:F2024L00664:clause:1_865:p6
Version: federal_register_of_legislation:F2024L00664
Segment Type: clause
Provision Reference: sch 1 cl 865 (pt 6/8)
Character Range: 23980–26566

(535.99 − 500) × 0.1
  = 3.5990 or $4.00 (rounded to the nearest dollar)

Example 2:
Employee's weekly earnings are $1,064.25 and the number of children claimed at question 12 is three. Scale 6 is applied.
x = 1,064.99
  WFT = ([4,027 × 3] + 43,846) ÷ 52
  = 1,075.5192 or $1,075.52 (rounded to the nearest cent)
As x is greater than $1,053 and less than WFT, WLA is calculated using formula (2):
WLA = 1,064.99 × 0.01
  = 10.6499 or $11.00 (rounded to the nearest dollar)

Example 3:
Employee's weekly earnings are $1,200.47 and the number of children claimed at question 12 is four. Scale 2 is applied.
x = 1,200.99
  WFT = ([4,027 × 4] + 43,846) ÷ 52
  = 1,152.9615 or $1,152.96 (rounded to the nearest cent)
SOP = (1,152.96 × 0.1) ÷ 0.08
  = 1,441.2000 or $1,441 (ignoring cents)
As x is greater than WFT and less than SOP, WLA is calculated using formula (3):
WLA = (1,152.96 × 0.020) − ([1,200.99 − 1,152.96] × 0.0800)
  = 19.2168 or $19.00 (rounded to the nearest dollar)

Fortnightly levy adjustment

Multiply rounded weekly levy adjustment by two.
Example:
Employee's fortnightly earnings are $1,887.52 and the number of children claimed at question 12 is one. Scale 2 is applied.
Equivalent weekly earnings = $1,887.52 ÷ 2
= $943.76
x = 943.99
WFT = ([4,027 × 1] + 43,846) ÷ 52
= 920.6346 or $920.63 (rounded to the nearest cent)
SOP = (920.63 × 0.1) ÷ 0.08
= 1,150.7875 or $1,150 (ignoring cents)
As x is greater than WFT and less than SOP, formula (3) is used:
WLA = (920.63 × 0.020) − ([943.99 − 920.63] × 0.0800)
= 16.5438 or $17.00 (rounded to the nearest dollar)
The fortnightly levy adjustment is therefore $34.00 ($17.00 × 2).

Monthly levy adjustment

Multiply rounded weekly levy adjustment by 13 and divide the result by three. The result should be rounded to the nearest dollar.
Example:
Employee's monthly earnings are $2,800.33 and has a spouse but no children. Scale 2 is applied.
Equivalent weekly earnings = ($2,800.33 + 0.01) × 3 ÷ 13
= $646.23
x = 646.99
WFT = $843.19
As x is greater than $625 and less than WFT, formula (2) applies:
WLA = 646.99 × 0.0200 = 12.9398 or $13.00 (rounded to the nearest dollar)
The monthly adjustment is therefore $56.00 ($13.00 × 13 ÷ 3, rounded to the nearest dollar).

Quarterly levy adjustment
Multiply rounded weekly levy adjustment by 13.

General examples

Example 1:
Employee's weekly earnings are $1,333.45. Employee has completed a Tax file number declaration claiming the tax-free threshold. The employee has also provided a Medicare levy variation declaration with five children shown at question 12.
Therefore,