South Australian Consolidated Regulations South Australian Consolidated Regulations15—Compensation payable on death
(1) For the purposes
of section 45B(1) of the Act, the prescribed amount that may be payable in
relation to a funeral benefit is—
(a) in
relation to a worker who dies before or on 31 December 2000—$5 599;
(b) in
relation to a worker who dies in the 2001 calendar year or a subsequent
calendar year—a sum (calculated to the nearest multiple of $10) that
bears to $5 500 the same proportion, subject to subregulation (1a),
as the Consumer Price Index for the September quarter of the immediately
preceding year bears to the Consumer Price Index for the September quarter,
1998.
(1a) For the purpose
of determining the sum referred to in subregulation (1)(b), the amount of
the Consumer Price Index for the September quarter, 2000, and for the
September quarter of each subsequent year will be reduced by the amount of the
component of the weighted average of the Consumer Price Index for the eight
Australian capital cities for the September quarter, 2000, that, in the
opinion of the Australian Bureau of Statistics, is attributable to the impact
of the GST.
(1b) If the Australian
Bureau of Statistics has not determined and published the amount of the
component referred to in subregulation (1a) that is attributable to the
GST by 1 January 2001, the determination under subregulation (1)(b)
for that year will be delayed until the amount has been published by the
Bureau.
(2) For the purposes
of section 44(14) of the Act, the prescribed rate of discount that is to be
applied to the capitalised value of weekly payments under section 44 is 3%.
(3) For the purposes
of section 45A(15) of the Act, the prescribed rate of interest on an amount of
compensation payable under that section will be the prime bank rate (within
the meaning of regulation 17) for the financial year in which the
compensation is paid.