INCOME TAX ASSESSMENT REGULATIONS 1997

SCHEDULE 1B  

(regulations 307-205.01 and 307-205.02 )


VALUATION FACTORS

SECTION 2   2   LUMP SUM VALUATION FACTORS  


2(1)  
For subregulation 307-205.02(2) , the applicable factor is the discount valuation factor mentioned in subclause (3) that applies for the minimum deferral period.

2(2)  
For the purposes of this clause, the minimum deferral period in relation to a lump sum that is to be paid at a time after the date on which an interest is to be valued is the number of complete years between the day before the date on which the interest is to be valued and the earliest date at which the lump sum can be paid.

2(3)  
This subclause sets out the discount valuation factors, in accordance with the following principles:


(a) the factors in column 2 of table 3 apply if the lump sum is not indexed;


(b) the factors in column 3 of table 3 apply if the lump sum is indexed in accordance with the consumer price index;


(c) the factors in column 4 of table 3 apply if the lump sum is indexed in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics);


(d) if the lump sum is indexed in accordance with a fund crediting rate, the factor is 1.


Table 3
Table 3
Minimum deferral period Lump sum not indexed CPI indexed lump sum Wage indexed lump sum
0 1.000 1.000 1.000
1 0.939 0.963 0.977
2 0.882 0.927 0.954
3 0.829 0.892 0.932
4 0.779 0.859 0.910
5 0.732 0.827 0.889
6 0.689 0.797 0.869
7 0.648 0.768 0.849
8 0.610 0.740 0.830
9 0.575 0.714 0.811
10 0.542 0.688 0.793
11 0.511 0.664 0.776
12 0.483 0.641 0.759
13 0.456 0.619 0.742
14 0.431 0.598 0.727
15 0.409 0.579 0.711
16 0.387 0.560 0.697
17 0.368 0.542 0.683
18 0.350 0.525 0.669
19 0.333 0.509 0.656
20 0.318 0.494 0.644
21 0.304 0.480 0.632
22 0.291 0.467 0.621
23 0.279 0.454 0.610
24 0.269 0.443 0.600
25 0.259 0.432 0.590
26 0.250 0.422 0.582
27 0.243 0.413 0.573
28 0.236 0.404 0.565
29 0.229 0.397 0.558
30 0.224 0.390 0.552





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