115Scheme penalty rates

115 Scheme penalty rates

115 Scheme penalty rates

(1) For the Act, Schedule 4A, clause 163(1), the following scheme penalty rates are prescribed—

(a) for the 2027 compliance period—$17.50,

(b) for the 2028–2036 compliance periods—the amount calculated as follows—

where—

A is the CPI number for the September quarter immediately before the compliance period for which the amount is calculated.

B is the CPI number for the September 2027 quarter.

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

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