sec.75Indexation of particular amounts

### sec.75 Indexation of particular amounts The Minister must, before each financial year starts, make a notice for the financial year fixing amounts for or under the following provisions— section 58 (1) (b) ; section 62 (2) (a) and (b) ; section 64 (2) . The amount fixed for or under a provision mentioned in subsection (1) for a purpose is to be the amount last fixed by the Minister for the purpose adjusted by the percentage change in average weekly earnings between the current financial year and the last financial year and rounded to the nearest 10 dollars (rounding one-half upwards). However, subsection (4) applies if— the percentage change in average weekly earnings between the current financial year and the last financial year would reduce or would not change the amount fixed for a purpose; or the percentage change in average weekly earnings between the current financial year and the last financial year is not available from the Australian Statistician. The Minister must fix an amount for the purpose that is not less than the amount for the purpose last fixed by the Minister. The Minister’s notice is subordinate legislation. Despite subsection (1) , the Minister may make a notice for a financial year, after 1 July in the financial year, that has retrospective operation to 1 July in the financial year. Subsection (6) applies despite the Statutory Instruments Act 1992 , section 34 . In this section— current financial year , for a notice, means the financial year immediately before the financial year for which the notice is made. last financial year , for a notice, means the financial year immediately before the current financial year. s 75 prev s 75 exp 2 December 2005 (see prev s 75(5)) pres s 75 ins 2010 No. 9 s 14 amd 2013 No. 39 s 110 sch 3 pt 2 ; 2013 No. 52 s 116 sub 2023 No. 23 s 35 (sec.75-ssec.1) The Minister must, before each financial year starts, make a notice for the financial year fixing amounts for or under the following provisions— section 58 (1) (b) ; section 62 (2) (a) and (b) ; section 64 (2) . (sec.75-ssec.2) The amount fixed for or under a provision mentioned in subsection (1) for a purpose is to be the amount last fixed by the Minister for the purpose adjusted by the percentage change in average weekly earnings between the current financial year and the last financial year and rounded to the nearest 10 dollars (rounding one-half upwards). (sec.75-ssec.3) However, subsection (4) applies if— the percentage change in average weekly earnings between the current financial year and the last financial year would reduce or would not change the amount fixed for a purpose; or the percentage change in average weekly earnings between the current financial year and the last financial year is not available from the Australian Statistician. (sec.75-ssec.4) The Minister must fix an amount for the purpose that is not less than the amount for the purpose last fixed by the Minister. (sec.75-ssec.5) The Minister’s notice is subordinate legislation. (sec.75-ssec.6) Despite subsection (1) , the Minister may make a notice for a financial year, after 1 July in the financial year, that has retrospective operation to 1 July in the financial year. (sec.75-ssec.7) Subsection (6) applies despite the Statutory Instruments Act 1992 , section 34 . (sec.75-ssec.8) In this section— current financial year , for a notice, means the financial year immediately before the financial year for which the notice is made. last financial year , for a notice, means the financial year immediately before the current financial year. - (a) section 58 (1) (b) ; - (b) section 62 (2) (a) and (b) ; - (c) section 64 (2) . - (a) the percentage change in average weekly earnings between the current financial year and the last financial year would reduce or would not change the amount fixed for a purpose; or - (b) the percentage change in average weekly earnings between the current financial year and the last financial year is not available from the Australian Statistician.