9Base rate (section 8)

9 Base rate (section 8)

9 Base rate (section 8)

(1) For the financial year beginning 1 July 2009, the base rate of the levy is—

(a) $2,000, in relation to premises in a Category 1 area, and

(b) $710, in relation to premises in a Category 2 area.

(2) For any subsequent financial year, the base rate of the levy in relation to premises in a Category 1 or Category 2 area is the CPI adjusted levy for premises in that area, as determined in accordance with the following formula—

where—

C is the CPI adjusted levy being determined (with amounts of less than $5 being rounded down to the next lower multiple of $10 and amounts of $5 or more being rounded up to the next higher multiple of $10).

L is the base rate for the base year for premises in that area.

A is the sum of the consumer price index numbers for the June, September, December and March quarters immediately prior to 1 April of the year preceding the financial year for which the base rate is being calculated.

B is the sum of the consumer price index numbers for the June, September, December and March quarters immediately prior to 1 April of the year preceding the base year.

(2A) Despite subclause (2), for the financial year beginning 1 July 2020, the base rate of the levy in relation to premises in a Category 1 or Category 2 area is the base rate of the levy that was determined in respect of the premises for the financial year beginning 1 July 2019.

(3) In this clause—

base year means the financial year for which the base rate is fixed under subclause (1).

consumer price index means the Consumer Price Index (All Groups Index) for Sydney issued by the Australian Statistician.

cl 9: Am 2020 (281), cl 3.