A New Tax System (Family Assistance) Act 1999

Schedules

Schedule 4 - Indexation and adjustment of amounts  

Note:

See section 85 .

Part 2 - Indexation  

5   Indexation factor  

(1)    
Subject to subclauses (2) and (3) and clauses 10 and 11, the indexation factor for an amount that is to be indexed under this Part on an indexation day is:

Index number for most recent reference quarter Index number for base quarter

worked out to 3 decimal places.

(2)    
If an indexation factor worked out under subclause (1) would, if it were worked out to 4 decimal places, end in a number that is greater than 4, the indexation factor is to be increased by 0.001.

(3)    
If an indexation factor worked out under subclauses (1) and (2) would be less than 1, the indexation factor is to be increased to 1.

(4)    
Subject to subclause (5), if at any time (whether before or after the commencement of this clause), the Australian Statistician publishes an index number for a quarter in substitution for an index number previously published by the Australian Statistician for that quarter, the publication of the later index number is to be disregarded for the purposes of this clause.

(5)    
If at any time (whether before or after the commencement of this clause) the Australian Statistician changes the index reference period for the Consumer Price Index, regard is to be had, for the purposes of applying this clause after the change takes place, only to index numbers published in terms of the new index reference period.