Commonwealth Consolidated Acts

FIRST HOME SAVER ACCOUNTS ACT 2008 - SECT 30

             (1)  The amount of the account balance cap is indexed annually by:

                     (a)  multiplying the amount for the 2008‑09 financial year by its indexation factor; and

                     (b)  rounding the result in paragraph (a) down to the nearest multiple of $5,000.

             (2)  The account balance cap is not indexed if its indexation factor is 1 or less.

             (3)  The indexation factor is:

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

             (5)  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 for that month.