30AIndexation of charges

30A Indexation of charges

Indexation of charges (1) If the indexation factor for an indexation day is greater than 1, the dollar amounts mentioned in the table in subsection 30(1) are each replaced by the amount worked out using the following formula: Start formula The dollar amount of charge immediately before the indexation day times Indexation factor for the indexation day end formula (2) The amount worked out under subsection (1) is to be rounded to the nearest whole dollar (rounding 50 cents upwards). Indexation factor (3) The indexation factor for an indexation day is the number worked out using the following formula: Start formula start fraction Index number for the reference quarter over Index number for the base quarter end fraction end formula (4) The indexation factor is to be worked out to 3 decimal places (rounding up if the fourth decimal place is 5 or more). Changes to CPI index reference period and publication of substituted index numbers (5) Amounts are to be worked out under this section: (a) using only the index numbers published in terms of the most recently published index reference period for the Consumer Price Index; and (b) disregarding index numbers published in substitution for previously published index numbers (except where the substituted numbers are published to take account of changes in the index reference period). Definitions (6) In this section:

base quarter means the last December quarter before the reference quarter.

December quarter means a period of 3 months starting on 1 October.

indexation day means 1 July 2024 and each later 1 July.

index number, for a quarter, means the All Groups Consumer Price Index number (being the weighted average of the 8 capital cities) published by the Australian Statistician for that quarter.

reference quarter means the December quarter immediately before the indexation day.