sec.130Prescribed amount for application of trust capital

sec.130 Prescribed amount for application of trust capital

For section 128 (4) (a) , the prescribed amount is— for the initial period—$100,000; or for the financial year starting immediately after the end of the initial period—$100,000 plus the CPI increase for the financial year, rounded to the nearest dollar (rounding one-half upwards); or for a later financial year—the prescribed amount for the previous financial year plus the CPI increase for the later financial year, rounded to the nearest dollar (rounding one-half upwards). The chief executive must, before the start of each financial year, publish on the department’s website the prescribed amount for the financial year. In this section— CPI means the all groups consumer price index for Brisbane published by the Australian Bureau of Statistics. CPI increase , for a financial year, means the amount worked out by multiplying the prescribed amount for the previous financial year by the percentage increase, if any, in the CPI between— the March quarter for the financial year before the previous financial year; and the March quarter for the previous financial year. initial period means the period— starting on the commencement of this section; and ending on 30 June following the first anniversary of the commencement of this section. (sec.130-ssec.1) For section 128 (4) (a) , the prescribed amount is— for the initial period—$100,000; or for the financial year starting immediately after the end of the initial period—$100,000 plus the CPI increase for the financial year, rounded to the nearest dollar (rounding one-half upwards); or for a later financial year—the prescribed amount for the previous financial year plus the CPI increase for the later financial year, rounded to the nearest dollar (rounding one-half upwards). (sec.130-ssec.2) The chief executive must, before the start of each financial year, publish on the department’s website the prescribed amount for the financial year. (sec.130-ssec.3) In this section— CPI means the all groups consumer price index for Brisbane published by the Australian Bureau of Statistics. CPI increase , for a financial year, means the amount worked out by multiplying the prescribed amount for the previous financial year by the percentage increase, if any, in the CPI between— the March quarter for the financial year before the previous financial year; and the March quarter for the previous financial year. initial period means the period— starting on the commencement of this section; and ending on 30 June following the first anniversary of the commencement of this section.

• (a) for the initial period—$100,000; or
• (b) for the financial year starting immediately after the end of the initial period—$100,000 plus the CPI increase for the financial year, rounded to the nearest dollar (rounding one-half upwards); or
• (c) for a later financial year—the prescribed amount for the previous financial year plus the CPI increase for the later financial year, rounded to the nearest dollar (rounding one-half upwards).