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Budget Savings (Omnibus) Act 2016
198‑20 Meaning of index number198‑20 Meaning of index number
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#### 198‑20 Meaning of index number
(1) The index number for a \*quarter is 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.
(2) Subject to subsection (3), if, at any time before or after the commencement of this subsection:
(a) the \*Australian Statistician has published or publishes an index number in respect of a \*quarter; and
(b) that index number is in substitution for an index number previously published by the Australian Statistician in respect of that quarter;
disregard the publication of the later index number for the purposes of this section.
(3) If, at any time before or after the commencement of this subsection, the \*Australian Statistician has changed or changes the index reference period for the Consumer Price Index, then, for the purposes of applying this section after the change took place or takes place, have regard only to \*index numbers published in terms of the new index reference period.
4 Subclause 1(1) of Schedule 1 (definition of indexation period)
Repeal the definition.
Schedule 3—Removal of HECS‑HELP benefit
Higher Education Support Act 2003
1 Paragraphs 140‑1(2)(d) and (e)
Repeal the paragraphs, substitute:
(d) \*compulsory repayment amounts in respect of the debt.
2 Subsection 140‑5(1) (method statement, step 4A)
Repeal the step.
3 Subsection 140‑5(1) (example)
Omit “Step 4A: Does not apply because Lorraine does not satisfy the eligibility requirements for the HECS‑HELP benefit.”.
4 Subsection 140‑5(3)
Repeal the subsection.
5 Section 148‑1
Omit:
Repayment amounts may be reduced by the HECS‑HELP benefit. To receive the benefit, a person must satisfy eligibility requirements and apply for it. The Commissioner determines whether a person is eligible for the benefit, and if so, the amount of the benefit.
6 Section 148‑5
Repeal the section.
7 Subsection 154‑1(1)
Omit “Subject to section 154‑3, if”, substitute “If”.
8 Section 154‑3
Repeal the section.
9 Section 154‑35 (note)
Repeal the note.
10 Section 154‑40
Repeal the section, substitute: