62Scheme penalty rates

62 Scheme penalty rates

62 Scheme penalty rates

(1) For the purposes of the Act, Schedule 4A, clause 99, the scheme penalty rate is—

(a) for the 2022–2023 compliance period—$2.35 per certificate, or

(b) for each subsequent compliance period—the amount calculated as follows—

where—

CPIcurrent year means the consumer price index for the June quarter immediately before the beginning of the compliance period.

CPIJun 22 means the consumer price index for the June quarter 2022.

(2) The amount of the scheme penalty rate is to be rounded up to the nearest cent.

(3) The scheme penalty rate for each compliance period, other than the 2022–2023 compliance period, must be published on the Scheme Regulator’s website before the beginning of the compliance period.

cl 62: Subst 2021 (552), Sch 2. Am 2022 (607), Sch 1[56].