Sch 4 cl 7 repealed by No 122 of 2014, s 3 and Sch 1 item 188, effective 20 September 2014. Cl 7 formerly read:
7 Indexation of certain clean energy amounts
(1)
This clause applies to the following amounts:
(a)
FTB clean energy child amount;
(b)
Clean energy supplement (Part B);
(c)
ACO clean energy supplement.
(2)
If an amount to which this clause applies is to be indexed under this Part on an indexation day, this Act has effect as if the indexed amount were substituted for that amount on that day.
(3)
This is how to work out the indexed amount for an amount to which this clause applies that is to be indexed under this Part on an indexation day (the
current indexation day
):
Method statement
Step 1.
Work out the current figure for the amount immediately before 1 July 2014.
Step 2.
Multiply that current figure, in turn, by the indexation factor (worked out under clause 5) for the amount on each indexation day, for the amount, starting on 1 July 2014 and up to and including the current indexation day: the result is the
provisional indexed amount
.
Step 3.
Use clause 6 to round off the provisional indexed amount: the result is the indexed amount.
Sch 4 cl 7 inserted by No 154 of 2012, s 3 and Sch 6 item 6, effective 17 November 2012.
View history note
Hide history note