Document ID: chunk:federal_register_of_legislation:C2023A00004:clause:1_113
Version: federal_register_of_legislation:C2023A00004
Segment Type: clause
Provision Reference: sch 1 cl 113
Character Range: 43464–44175

113  Subsections 42(1) and (2)
Repeal the subsections (not including the method statement), substitute:

Indexation day
 (1) Subject to subsection (2), the amount of the individual PPL income limit and the amount of the family PPL income limit are to be indexed under this Subdivision on 1 July each year (the indexation day).
 (2) The first indexation day for an amount of the individual PPL income limit is 1 July 2021 and the first indexation day for an amount of the family PPL income limit is 1 July 2024.

Working out the indexed amount for the individual and family PPL income limits
 (3) This is how to work out the indexed amount for the individual and family PPL income limits on the indexation day: