Superannuation Guarantee (Administration) Act 1992

PART 2 - EXPLANATION OF TERMS USED IN THE ACT  

SECTION 9   INTERPRETATION: INDEXATION FACTOR  

9(1)   [Determination of factor]  

The indexation factor for a year is whichever is the greater of the following:

(a) 1;

(b) the number calculated (to 3 decimal places) by dividing the AWOTE amount for the December quarter in the preceding year by the AWOTE amount for the December quarter in the year preceding that year.

Note:

The December quarter is a quarter beginning on 1 October.

9(2)   [AWOTE amount]  

The AWOTE amount for a quarter is the estimate of the full-time adult average weekly ordinary time earnings for persons in Australia for the middle month of the quarter published by the Australian Statistician in relation to the month.

9(3)   [Later estimate to be disregarded]  

If the Australian Statistician publishes an estimate of full-time adult average weekly ordinary time earnings for persons in Australia for a period for which such an estimate was previously published by the Australian Statistician, the publication of the later estimate is to be disregarded for the purposes of this section.

9(4)   [Number calculated to 3 decimal places]  

If the number calculated for the purposes of paragraph (1)(b) in relation to a year would, if calculated to 4 decimal places, end with a numeral higher than 4, the number is to be taken to be the number calculated to 3 decimal places and increased by 0.001.