Document ID: chunk:federal_register_of_legislation:C2014A00022:clause:1_84k
Version: federal_register_of_legislation:C2014A00022
Segment Type: clause
Provision Reference: sch 1 cl 84K
Character Range: 25959–26867

84K  LCI percentage

LCI percentage
 (1) Subject to subsection (2), the LCI percentage for a prescribed half‑year is:

where:
base quarter LCI number means the LCI number in respect of the March quarter or September quarter that:
 (a) is before the first quarter of the half‑year immediately before the prescribed half‑year; and
 (b) has the highest LCI number.
first quarter LCI number means the LCI number in respect of the first quarter of the half‑year immediately before the prescribed half‑year.
LCI number, in respect of a quarter, is the All Groups Pensioner and Beneficiary Living Cost Index number that is the weighted average of the 8 capital cities and is published by the Statistician in respect of the quarter.

Nil or negative change
 (2) If the first quarter LCI number is equal to or less than the base quarter LCI number, the LCI percentage for the prescribed half‑year is taken to be 0%.