126Indexation of subsection 61(2) amount

#### 126 Indexation of subsection 61(2) amount (1) In this section: > index number, in relation to an index year, means the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, published by the Australian Statistician in respect of that index year. > index year means a period of 12 months commencing on 1 April. (2) Where the factor ascertained in accordance with subsection (4) in relation to a financial year is greater than one, section 61 has effect as if, for the amount of $10,000 specified in subsection 61(2), there were substituted, on the first day of that financial year, an amount calculated by multiplying the existing amount by that factor. (3) For the purpose of subsection (2), the existing amount is: (a) if, because of the operation of subsection (2), section 61 already has effect as if an amount were substituted for the amount of $10,000 specified in subsection 61(2)—the substituted amount; and (b) in any other case—$10,000. (4) The factor to be ascertained for the purpose of subsection (2) in relation to a financial year is the number (calculated to 3 decimal places) ascertained by dividing the index number for the index year that ended on the 31 March preceding the commencement of that financial year by the index number for the previous index year. (5) Where a factor ascertained under subsection (4) would, if calculated to 4 decimal places, end with a number greater than 4, the factor ascertained shall be taken to be the factor calculated to 3 decimal places and increased by .001. (6) Subject to subsection (7), if at any time, whether before or after the commencement of this Act, the Australian Statistician has published or publishes an index number in respect of an index year in substitution for an index number previously published in respect of the same index year, the publication of the later index number shall be disregarded for the purposes of this section. (7) If at any time, whether before or after the commencement of this Act, the Australian Statistician has changed or changes the index reference period for the Consumer Price Index, then, for the purposes of the application of this section after the change, regard shall be had only to the index number published in terms of the new index reference period.