Document ID: chunk:federal_register_of_legislation:F2021L00882:reg:6
Version: federal_register_of_legislation:F2021L00882
Segment Type: reg
Provision Reference: reg 6
Character Range: 2473–5024

6  How the final factor was worked out
 (1) Under subsection 8(1) of the Act, the factor in relation to the 2020‑21 year is to be worked out by applying the formula set out in paragraph 8(1)(a) of the Act and then adjusting the result under whichever of paragraphs 8(1)(b) and (c) of the Act are applicable.

Paragraph 8(1)(a) formula
 (2) The factor calculated under paragraph 8(1)(a) of the Act is as follows:

Note 1: Under section 4A, the Statistician made the estimate of the population of Australia as at 31 December 2019 on 17 June 2021 (published and available at www.abs.gov.au).
Note 2: Under section 4A, the Statistician made the estimate of the population of Australia as at 31 December 2018 on 18 June 2020 (published and available at www.abs.gov.au).
Note 3: The formula uses the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, published on 28 April 2021 by the Statistician in respect of the 2021 March quarter (published and available at www.abs.gov.au).
Note 4: The formula uses the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, published on 29 April 2020 by the Statistician in respect of the 2020 March quarter (published and available at www.abs.gov.au).

Paragraph 8(1)(b) modification
 (3) The result of subsection (2) was modified by increasing the factor by 0.0001 under paragraph 8(1)(b) of the Act as the fifth decimal place was greater than 4.

Paragraph 8(1)(c) modification
 (4) The result of subsection (3) was modified under paragraph 8(1)(c) of the Act as a result of special circumstances, being the need to account for the Commonwealth's decision to bring forward the first 2 quarterly payments in the 2020-21 year into the 2019-20 year and the first 2 quarterly payments in the 2021-22 year into the 2020-21 year.  The modification was worked out by multiplying the result of subsection (3) by the following formula:

Where:
2019-20 amount means the first 2 quarterly payments that were brought forward from the year 2020-21 to be paid in the year 2019-20.
2020-21 amount means the amount that would have been the base figure for the year 2020-21 if the Commonwealth had not decided to bring forward any quarterly payments.
2021-22 amount means the first 2 quarterly payments that were brought forward from the year 2021-22 to be paid in the year 2020-21.
2019-20 final entitlement means the base figure for the year 2019-20.
sub (3) factor means the result of subsection (3).

Part 3—Estimated factor for the year 2021‑22