Bankruptcy Regulations 2021

PART 16 - MISCELLANEOUS  

Division 3 - Other matters  

SECTION 114   INDEXATION  

114(1)    
If a provision of this instrument states that a dollar amount is to be indexed in accordance with this section, then at the start of each financial year (an indexation year ) beginning on or after 1 July 2021, the dollar amount is replaced by the amount worked out using the following formula:

Indexation factor	×	Dollar amount
for the indexation year		for the previous year

114(2)    
The indexation factor for an indexation year is the number worked out using the following formula:

Index number for the reference quarter
Index number for the base quarter
where:

base quarter
means the last March 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 March quarter immediately before the indexation year.

114(3)    
An indexation factor is to be calculated to 3 decimal places (rounding up if the fourth decimal place is 5 or more).

114(4)    
If an indexation factor worked out under subsection (2) would be less than 1, that indexation factor is to be increased to 1.

114(5)    
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).