Higher Education Support Act 2003

Chapter 5 - Administration  

PART 5-6 - INDEXATION  

Division 198 - Indexation  

SECTION 198-15   Meaning of indexation factor  

198-15(1)    

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The indexation factor for the relevant year is:

	The *index number for the December reference quarter
	The *index number for the December base quarter

where:

December base quarter
means the *quarter ending on the 31 December that is 2 years and a day before the relevant 1 January.

December reference quarter
means the *quarter ending on the 31 December that is a year and a day before the relevant 1 January.

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History

S 198-15(1) amended by No 55 of 2016, s 3 and Sch 2 item 2, by substituting the formula, effective 1 January 2018. The formula formerly read:

The *index number for the relevant year
The *index number for the year immediately preceding the relevant year

198-15(2)    
Work out the *indexation factor to 3 decimal places (rounding up if the fourth decimal place is 5 or more).

Example:

If the factor is 1.102795, it is rounded up to 1.103.

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