Document ID: chunk:federal_register_of_legislation:F2021L01832:reg:9
Version: federal_register_of_legislation:F2021L01832
Segment Type: reg
Provision Reference: reg 9
Character Range: 3524–4989

9  Indexation of amounts
 (1) At the start of each year (an indexation year) after the year beginning 1 January 2022, the dollar amounts mentioned in paragraphs 6(a) to (d) and sections 7 and 8 are replaced by the amount worked out using the following formula for each of those amounts:

 (2) The indexation factor for an indexation year is the number worked out using the following formula:

where:
base quarter means the last September quarter before the reference quarter.
index number, for a quarter, means the All Groups Consumer Price Index number (being the weighted average of the 8 capital cities) published by the Australian Statistician for that quarter.
reference quarter means the September quarter in the year before the indexation year.
 (3) An indexation factor is to be calculated to 3 decimal places (rounding up if the fourth decimal place is 5 or more).
 (4) Amounts worked out under subsection (1) are to be rounded to the nearest whole dollar (rounding 50 cents upwards).
 (5) An indexation factor that is less than 1 is to be increased to 1.
 (6) Calculations under subsection (2):
 (a) are to be made using only the index numbers published in terms of the most recently published index reference period; and
 (b) are to be made disregarding index numbers that are published in substitution for previously published index numbers (except where the substituted numbers are published to take account of changes in the index reference period).