Document ID: chunk:federal_register_of_legislation:F2022C00682:body:0:p2
Version: federal_register_of_legislation:F2022C00682
Segment Type: other
Provision Reference: 
Character Range: 2658–6975

applied:
            (a) on 1 July of the financial year for which the total amount is being worked out; or
           (b) if that financial year is the year in which the income stream commences — on the commencement day for the income stream,
       (1A) If the financial year for which the total amount is being worked out is a financial year commencing 1 July 2019, 1 July 2020, 1 July 2021 or 1 July 2022, when applying the formula in subsection 9BA(5) of the Act to determine the minimum amount of the payments to be made under the income stream, PF means a number that is twice the payment factor specified in column 3 of the table in this section of the Principles that corresponds with the remaining term of the income stream.
        (2) If the amount worked out under subsection 9BA (5) of the Act (using the payment factor applicable under subsection (1)) is not $10, or a multiple of $10, the applicable payment factor is taken to be the factor that results in that amount rounding to $10, or the nearest multiple of $10, as appropriate.
        (3) For subsection (1), the remaining term of an income stream is rounded to the nearest whole year as follows:
            (a) if the commencement day of the income stream is on or after 1 January in a financial year, the term is rounded up to the nearest whole year;
            (b) if the commencement day is on or before 31 December in a financial year, the term is rounded down to the nearest whole year.

Payment factors

 Item  Term of income stream remaining   Payment factors
  1    70 or more                        26.00
  2    69                                25.91
  3    68                                25.82
  4    67                                25.72
  5    66                                25.62
  6    65                                25.52
  7    64                                25.41
  8    63                                25.30
  9    62                                25.19
 10    61                                25.07
 11    60                                24.94
 12    59                                24.82
 13    58                                24.69
 14    57                                24.55
 15    56                                24.41
 16    55                                24.26
 17    54                                24.11
 18    53                                23.96
 19    52                                23.80
 20    51                                23.63
 21    50                                23.46
 22    49                                23.28
 23    48                                23.09
 24    47                                22.90
 25    46                                22.70
 26    45                                22.50
 27    44                                22.28
 28    43                                22.06
 29    42                                21.83
 30    41                                21.60
 31    40                                21.36
 32    39                                21.10
 33    38                                20.84
 34    37                                20.57
 35    36                                20.29
 36    35                                20.00
 37    34                                19.70
 38    33                                19.39
 39    32                                19.07
 40    31                                18.74
 41    30                                18.39
 42    29                                18.04
 43    28                                17.67
 44    27                                17.29
 45    26                                16.89
 46    25                                16.48
 47    24                                16.06
 48    23                                15.62
 49    22                                15.17
 50    21                                14.70
 51    20                                14.21
 52    19                                13.71
 53    18                                13.19
 54    17                                12.65
 55    16                                12.09
 56    15                                11.52
 57    14                                10.92
 58    13                                10.30
 59    12                                 9.66