236KPrescribed fee—application for reassessment and re-rating

236K Prescribed fee—application for reassessment and re-rating

236K Prescribed fee—application for reassessment and re-rating

(1) For the purposes of section 139(2)(c) of the Law, the prescribed fee for the financial year beginning on 1 July 2023 in relation to a small service, a medium service or a large service is to be calculated in accordance with the following formula—

where—

F is—

(a) in the case of a small service, $482;

(b) in the case of a medium service, $725;

(c) in the case of a large service, $967;

FX is the indexation factor for the financial year beginning on 1 July 2023.

(2) For the purposes of section 139(2)(c) of the Law, the prescribed fee for the financial year beginning on 1 July 2023 in relation to an extra-large service is to be calculated in accordance with the following formula—

where—

FX is the indexation factor for the financial year beginning on 1 July 2023.

(3) For the purposes of section 139(2)(c) of the Law, in a financial year beginning on 1 July 2024 or 1 July in a later year (the relevant financial year), the prescribed fee is to be calculated in accordance with the following formula—

where—

P is the amount of the relevant fee payable in the previous financial year;

FX is the indexation factor for the relevant financial year.

Reg 236K: Ins 2023 (165), reg 34.