Australian Apprenticeship Support Loans Act 2014
32AASL debt indexation factor
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32 AASL debt indexation factor
(1) The AASL debt indexation factor for 1 June in a financial year is the number (rounded to 3 decimal places) that is the lower of the CPI indexation factor for 1 June in the financial year (see subsection (1A)) and the WPI indexation factor for 1 June in the financial year (see subsection (1B)). (1A) The CPI indexation factor for 1 June in a financial year is worked out using the following method statement:
Method statement
Step 1. Add:
(a) the index number for the quarter ending on 31 December in that financial year; and
(b) the index numbers for the 3 quarters that immediately preceded that quarter.
Step 2. Add:
(a) the index number for the quarter ending on 31 December in the immediately preceding financial year; and
(b) the index numbers for the 3 quarters that immediately preceded that quarter.
Step 3. The CPI indexation factor for 1 June in the financial year is the amount under step 1 divided by the amount under step 2, rounded to 3 decimal places.
(1B) The WPI indexation factor for 1 June in a financial year is worked out using the following method statement:
Method statement
Step 1. Add:
(a) the WPI index number for the quarter ending on 31 December in that financial year; and
(b) the WPI index numbers for the 3 quarters that immediately preceded that quarter.
Step 2. Add:
(a) the WPI index number for the quarter ending on 31 December in the immediately preceding financial year; and
(b) the WPI index numbers for the 3 quarters that immediately preceded that quarter.
Step 3. The *WPI indexation factor for 1 June in the financial year is the amount under step 1 divided by the amount under step 2, rounded to 3 decimal places.
(2) For the purposes of rounding an AASL debt indexation factor, the third decimal place is rounded up if, apart from the rounding: (a) the factor would have 4 or more decimal places; and (b) the fourth decimal place would be a number greater than 4.