SCHEDULE 1 - Adjustment of Amo SCHEDULE 1 - Adjustment of Amounts

Sections 133(2), 135(2), 147(5) and 148(4)

1.   Interpretation

In this Schedule –

adjustable amount means an amount that a provision of this Act provides is to be adjusted for inflation under this Schedule;

Consumer Price Index means the Consumer Price Index (All Groups) for Hobart published by the Australian Statistician;

Consumer Price Index number, in relation to a quarter, means the number for that quarter appearing in the Consumer Price Index;

election period means the period between the dates of the return of the writs of successive Assembly general elections or Council periodic elections.

2.   Adjustment of public funding amounts

(1) Each of the adjustable amounts specified in Part 11 is to be adjusted for inflation as provided by this clause.

(2) The adjustable amounts that are to apply for the next Assembly general election after this Act commences are to be determined by multiplying the adjustable amounts specified in the relevant provision of Part 11 by the increase in the Consumer Price Index during the election period commencing on the date of the return of the writs of the previous State Assembly general election and ending on the date of the return of the writs of the next State Assembly general election.

(3) The adjustable amounts that are to apply for a subsequent election period are to be determined by multiplying the adjustable amounts that applied for the previous election period by the increase in the Consumer Price Index during the previous election period.

(4) The increase in the Consumer Price Index during an election period is to be calculated as B/A where –

A is the Consumer Price Index number for the last quarter for which such a number was published before the beginning of the election period;