Sch 2Indexation of rates for component levy amounts

Schedule 2—Indexation of rates for component levy amounts

Sections 22, 23 and 92

Part 1—Preliminary

1 Definitions

In this Schedule—

consumer price index means the all groups consumer price index for Melbourne in original terms published by the Australian Bureau of Statistics;

wage price index means the index titled "All‑Industries Total Hourly Rates of Pay Excluding Bonuses for the Private and Public Sectors in Victoria" in original terms published by the Australian Bureau of Statistics.

Part 2—Indexation of rates for component levy amounts for 2021/2022 to 2024/2025 financial years

2 Indexation of rates

For the purposes of section 22(2)(a), (b), (c), (d), (e), (f) and (g) and the definition of applicable rate in section 22(5), the rate (in dollars) for each of the 2021/2022, 2022/2023, 2023/2024 and 2024/2025 financial years is to be determined in accordance with the following formula—

**A** is the rate (in dollars) for the relevant financial year;

**AF** is—

(a) for a component levy amount described in section 22(2)(a), 1·264;

(b) for a component levy amount described in section 22(2)(b), 1·042;

(c) for a component levy amount described in section 22(2)(c), 1·014;

(d) for a component levy amount described in section 22(2)(d), 1·193;

(e) for a component levy amount described in section 22(2)(e), 1·193;

(f) for a component levy amount described in section 22(2)(f), 1·031;

(g) for a component levy amount described in section 22(2)(g), 1·074;

**B** is—

(a) for the 2021/2022 financial year, the rate specified in section 22(1)(a), (b), (c), (d), (e), (f) or (g), as the case requires;

(b) for each of the 2022/2023, 2023/2024 and 2024/2025 financial years, the rate (in dollars) determined in accordance with this formula for the preceding financial year;

**CPI** is the figure determined in accordance with clause 3;

**WPI** is the figure determined in accordance with clause 4.

3 CPI formula

For the purposes of the formula under clause 2, the variable "CPI" is to be determined in accordance with the following formula—

**C** is the consumer price index number for the reference period ending on the last day of the calendar year falling within—