8AAProtected earnings amount (Act s. 95U)

8AA. Protected earnings amount (Act s. 95U)

(1) The protected earnings amount for a pay period for the purposes of section 95P is the amount determined by multiplying the weekly protected earnings amount (as determined under this regulation) by the number of weeks in the pay period.

(2) If the pay period is not a number of whole weeks, the number of weeks in the pay period for the purposes of subregulation (1) is to be determined by dividing the number of days in the pay period by 7 (rounded to 2 decimal places).

(3) For the purposes of subregulation (1), the weekly protected earnings amount is —

(a) for the financial year ending on 30 June 2021 — $509; or

(b) for any subsequent financial year — an amount in dollars calculated as follows —

where —

W is the number published by the Australian Bureau of Statistics as the Wage Price Index, ordinary time hourly rates of pay excluding bonuses for Western Australia (original) (WPI) for the last December quarter before the financial year commenced;

X is 132.4, being the WPI for the December 2019 quarter.

(4) An amount calculated under subregulation (3)(b) is to be rounded to the nearest whole number of dollars, with an amount that is 50 cents more than a whole number of dollars being rounded up.

(5) If the calculation under subregulation (3)(b) cannot be performed in relation to a financial year because the WPI for the relevant quarter was not published, the weekly protected earnings amount for that financial year is the same as for the previous financial year.

[Regulation 8AA inserted: SL 2020/167 r. 15.]