A New Tax System (Managing the GST Rate and Base) Act 1999

S 8 repealed by No 12 of 2009, s 3 and Sch 1 item 18, effective 1 July 2009. S 8 formerly read:

SECTION 8 Index factor  
(1)
The index factor for a GST year is the factor worked out using the formula:

GST year index number     Previous GST year index number

where:

GST year index number
means the sum of the index numbers for each of the first 3 quarters in the GST year and the final quarter for the previous GST year.

previous GST year index number
means the GST year index number for the previous GST year.

(2)
For the purposes of subsection (1), all financial years are taken to be GST years.