Public Governance, Performance and Accountability Rule 2014

CHAPTER 1 - INTRODUCTION  

PART 1-1 - INTRODUCTION  

Division 2 - Definitions  

SECTION 4A   MEANING OF THRESHOLD REMUNERATION AMOUNT  

Guide to this section

The purpose of this section is to define threshold remuneration amount .

4(1)    
The threshold remuneration amount for a reporting period is:

(a)    for a reporting period that begins on or after 29 June 2018 and ends on or before 30 June 2019 - $ 220,000; or

(b)    for a reporting period that begins in a financial year that begins on or after 1 July 2019 - the amount worked out using the following formula rounded to the nearest multiple of $ 5,000:

$ 220,000 × Indexation factor for the financial year


4(2)    
The indexation factor for a financial year is the number worked out using the following formula:


Index number for the reference June quarter  
Index number for the base June quarter  

where:

base June quarter
means the June quarter ending on 30 June 2018.

index number
, for a quarter, means the Wage Price Index (total hourly rates of pay excluding bonuses/public sector/all Australia/original) number published by the Australian Statistician in respect of that quarter.

June quarter
means a 3-month period ending on 30 June.

reference June quarter
means the June quarter immediately before the financial year.


4(3)    
The indexation factor is to be calculated to 3 decimal places (rounding up if the fourth decimal place is 5 or more).

4(4)    
The indexation factor is to be worked out:

(a)    using only the index numbers published in terms of the most recently published index reference period for the Wage Price Index; and

(b)    disregarding index numbers published in substitution for previously published index numbers (except where the substituted numbers are published to take account of changes in the index reference period).

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