Rural Industries Research and Development Corporation Regulations 2000
61Method of calculation of gross value of production
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61 Method of calculation of gross value of production
(1) For subsection 32 (2) of the PIRD Act, the Minister must determine the amount of the gross value of production, for a financial year (the relevant financial year), of the produce of a primary industry in respect of which a levy has been attached to the Corporation by using:
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where:
A is the estimated value of the leviable goods to be produced in the relevant financial year.
B is the value of the leviable goods produced in the financial year immediately before the relevant financial year (the previous financial year).
C is the value of the leviable goods produced in the financial year immediately before the previous financial year.
(2) In subregulation (1), a reference to the value of leviable goods produced or to be produced in a financial year is a reference to the production figure supplied by the Australian Bureau of Agricultural and Resource Economics that shows: (a) the gross value of leviable goods produced by the primary industry in that financial year; or (b) the estimated gross value of leviable goods to be produced by the primary industry in that financial year.