Income Tax Assessment Act 1997

CHAPTER 6 - THE DICTIONARY  

PART 6-1 - CONCEPTS AND TOPICS  

Division 960 - General  

Subdivision 960-M - Indexation  

Operative provisions

SECTION 960-280   Index number  

960-280(1)  


In most cases, the index number for a *quarter is the All Groups Consumer Price Index number (being the weighted average of the 8 capital cities) first published by the Australian Statistician for the quarter. Car limit

960-280(2)  


For calculating the *car limit, the index number for a *quarter is the index number for the motor vehicle purchase sub-group of the Consumer Price Index, being the weighted average of the 8 capital cities, first published by the Australian Statistician for the quarter.

960-280(3)  


If the Australian Statistician changes the index reference period for an *index number, only index numbers published in terms of the new index reference period are to be used after the change. Genuine redundancy, early retirement schemes, pre-1 July 88 funding credits

960-280(4)  


For calculating the amounts mentioned in the provisions listed at items 5, 6 and 7 in section 960-265 , the index number for a *quarter is the estimate of full-time adult average weekly ordinary time earnings for the middle month of the quarter first published by the Australian Statistician in respect of that month.

960-280(5)  


Subsection (3) does not apply to the index numbers mentioned in subsection (4). Exceptions

960-280(6)  


This section does not apply in relation to amounts mentioned in the provisions listed at items 8 to 12, or at item 14, in section 960-265 .
Note:

For the indexation of those amounts, see sections 960-285 and 960-290 .


 

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