New South Wales Consolidated Regulations New South Wales Consolidated RegulationsThe input tax credit adjustment (“I”) in respect of a period of insurance is to be calculated:
(a) if the employer is a category A employer for the purposes of the policy, in accordance with the following formula:
(b) if the employer is a category B employer for the purposes of the policy, in accordance with the following formula:
(c) if the basic tariff premium does not exceed $112,000 (or, if the period of insurance is to be less than 12 months, where the basic tariff premium would not exceed $112,000 were that period of insurance to be 12 months), and if the experience adjusted premiumexceeds twice the value of the basic tariff premium [T], the value of 2T replaces the experience premium in the above formula. That is, where the [2T] limit applies, then:
"T" is the basic tariff premium for the employer, calculated with respect to the period of insurance in accordance with Schedule 3 to this Order.
"S" is the experience adjustment factor for the employer determined with respect to the period of insurance in accordance with Schedule 4 to this Order.
"E" is the experience premium, if any, for the employer determined with respect to the period of insurance in accordance with Schedule 5 to this Order.
"X" is the excess surcharge factor for the employer determined with respect to the period of insurance in accordance with Schedule 6 to this Order.
"Y" is the premium discount amount, if any, for the employer determined with respect to the period of insurance in accordance with Schedule 10 to this Order.
"Q" is the premiums adjustment contribution, if any, for the employer.
"B%" is the percentage rate specified in Column 2 of the Table to this clause that corresponds to the range of input tax credit entitlement specified in Column 1 that contains the input tax credit entitlement for the employer.
| Column 1 | Column 2 |
| Input Tax Credit entitlement | Premium discount relative to 100% ITC |
| > 90% | Nil |
| > 80 ≤ 90% | 0.6% |
| > 70 ≤ 80% | 1.2% |
| > 60 ≤ 70% | 1.8% |
| > 50 ≤ 60% | 2.4% |
| > 40 ≤ 50% | 3.0% |
| > 30 ≤ 40% | 3.6% |
| > 20 ≤ 30% | 4.2% |
| > 10 ≤ 20% | 4.8% |
| > 0 ≤ 10% | 5.4% |
| 0% | 6% |
(1) In this Schedule, a reference to the input tax credit entitlement for an employer, in relation to a period of insurance, is a reference to the employer’s input tax credit entitlement notified in respect of that period in accordance with clause 134 of the Workers Compensation Regulation 2003 by the employer to the insurer.
(2) If at any time the employer has failed to notify the insurer of the employer’s input tax credit entitlement in respect of that period in accordance with clause 134 of the Workers Compensation Regulation 2003 , the employer’s input tax credit entitlement in respect of that period is for the purposes of this Schedule taken to be 100%.
