New South Wales Consolidated Regulations

WESTERN LANDS REGULATION 2004 - REG 15

15 Scaling factor for rent: section 19

(1) The object of this clause is to determine the scaling factors for the financial year commencing on 1 July 2004 and for subsequent financial years, as referred to in the definition of "scaling factor" in section 19 of the Act.

(2) The scaling factor for the financial year commencing on 1 July 2004 is 1.0.

(3) The scaling factor for each subsequent financial year is to be the scaling factor for the immediately preceding financial year plus half the CPI movement.

Note: This formula will result in a reduction in the scaling factor in the case of a downward CPI movement.

(4) In this clause:
"CPI" means the index known as the Weighted Average of Eight Capital Cities: All Groups Consumer Price Index that is published quarterly by the Australian Statistician.
"CPI movement"
where:
"C1" represents the CPI index for the December quarter for the calendar year immediately preceding the financial year for which the scaling factor is to be determined.
"C2" represents the CPI index for the December quarter for the calendar year immediately preceding the calendar year referred to in the definition of "C1".