96Annual limit on Ministerial salaries

96 Annual limit on Ministerial salaries

(1) For the purposes of paragraph 55(1)(b) of the Act, this section prescribes the amount that must not be exceeded for Ministerial salaries for a financial year. (2) The amount for the 2017‑2018 financial year is $5,500,000. (3) The amount for a later financial year is: (a) unless paragraph (b) applies—the same as the amount for the previous financial year; or (b) if there was an increase in base salary in the previous financial year—the amount worked out using the following formula: start formula start fraction New base salary over Previous base salary end fraction times Amount for the previous financial year end formula. (4) An amount worked out under subsection (3) must be rounded to the nearest hundred dollars.