7What is the charge limit?

7 What is the charge limit?

(1) The charge limit for a registration application made in the financial year ending at the end of 30 June 2002 is $1,800. (2) Work out the charge limit for a registration application made in a later financial year by: (a) multiplying the charge limit for the immediately preceding financial year by the greater of: (i) the indexation factor worked out using the formula in subsection (3); and (ii) 1.0; and (b) rounding the product to the nearest multiple of $5 (rounding an odd multiple of $2.50 to the next higher multiple of $5). (3) The formula for the indexation factor is: Image unavailable in extracted text where:

CPI quarter means a period of 3 months ending on 31 March, 30 June, 30 September or 31 December.

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

(4) The indexation factor is to be calculated to 3 decimal places, but increased by .001 if the 4th decimal place is more than 4. (5) When working out the indexation factor: (a) use only the index numbers published in terms of the most recently published index reference period for the Consumer Price Index; and (b) disregard 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).