7Indexation factor

7 Indexation factor

(1) The indexation factor for a calendar year is the number worked out using the following formula: Start formula start fraction Index number for most recent September year over Index number for past September year end fraction end formula where:

index number, in relation to a quarter, means the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, published by the Australian Statistician in respect of that quarter.

index number for most recent September year means the sum of the index numbers for the 4 quarters in the year ending 30 September in the previous calendar year.

index number for past September year means the sum of the index numbers for the 4 quarters in the year ending 30 September in the year before the previous calendar year.

(2) The indexation factor for a calendar year is to be worked out to 3 decimal places (rounding up if the fourth decimal place is 5 or more). (3) In working out the indexation factor: (a) use only the index numbers published in terms of the most recently published index reference period for the All Groups Consumer Price Index; and (b) disregard index numbers 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).