Sch 1 s 1Calculation of fee unit

Sch 1 s 1 Calculation of fee unit

1 Calculation of fee unit

(1) In this regulation, a fee unit is—

(a) in the financial year 2026–27—$131.66, and

(b) in each subsequent financial year—the amount calculated as follows—

where—

A is the CPI number for the March quarter in the financial year immediately preceding the financial year for which the amount is calculated.

B is the CPI number for the March quarter of 2017.

(2) If the fee unit for a financial year is less than the previous financial year, the fee unit for the previous financial year applies.

(3) A fee unit and fee amount must be rounded as follows—

(a) a fee unit is round to the nearest cent and an amount of 0.5 cents is rounded down,

(b) a fee amount, including the amount of a component of a fee, calculated by reference to a fee unit is rounded to the nearest dollar and an amount of 50 cents is rounded down.

(4) For each financial year, the Secretary must, as soon as practicable after the publication of the CPI number for the March quarter by the Australian Statistician—

(a) notify the Parliamentary Counsel of the indexed fee unit for publication on the NSW legislation website, and

(b) publish on a government website the dollar amount of the fees under this part.

(5) A failure to comply with subsection (4) does not affect the operation of this part.

(6) In this section—

CPI number means the Consumer Price Index (All Groups Index) for Sydney published by the Australian Bureau of Statistics in the latest published series of that index.

financial year means a period of 12 months commencing on 1 July.