Document ID: chunk:federal_register_of_legislation:C2017A00098:clause:1_6
Version: federal_register_of_legislation:C2017A00098
Segment Type: clause
Provision Reference: sch 1 cl 6
Character Range: 5393–6262

6  Subsections 8(1) and (2)
Repeal the subsections, substitute:
 (1) This section applies for the purpose of working out a dollar amount under paragraph 6(a) or (b) or 7(a) or (b) for the calendar year (the current year) beginning on 1 January 2019 or a later calendar year (the current year) if in the previous year the Minister did not make an instrument under section 7A for the purposes of that paragraph for the current year.
 (2) The dollar amount under that paragraph is on 1 January of the current year replaced by the amount worked out using the formula:

Indexation factor
 (2A) The indexation factor for a 1 January is the number worked out using the formula:

where:
base September quarter means the last September quarter before the reference September quarter.
reference September quarter means the September quarter in the year before the current year.