STATE TAXATION AND OTHER ACTS AMENDMENT ACT 2016 (NO. 40 OF 2016) - SECT 47 Adjusted deferred amount of growth areas infrastructure contribution

STATE TAXATION AND OTHER ACTS AMENDMENT ACT 2016 (NO. 40 OF 2016) - SECT 47

In clause 5(1) of Schedule 1 to the Planning and Environment Act 1987 —

        (a)     in the definition of "PDA", after "contribution" insert "determined in accordance with this clause";

        (b)     for the definitions of "A" and "B" substitute —

    'A     is the sum of the consumer price index numbers for—

        (a)     the last reference period in the financial year 2 years earlier than the financial year in respect of which the adjusted deferred amount is being determined; and

        (b)     each of the reference periods (other than the last) in the financial year immediately preceding the financial year in respect of which the adjusted deferred amount is being determined;

    B     is the sum of the consumer price index numbers for—

        (a)     the last reference period in the financial year 3 years earlier than the financial year in respect of which the adjusted deferred amount is being determined; and

        (b)     each of the reference periods (other than the last) in the financial year 2 years earlier than the financial year in respect of which the adjusted deferred amount is being determined.

Example

In the case that the reference periods are the quarterly periods of a financial year, the variables for the determination of the adjusted deferred amount for the 2016/2017 financial year are as follows—

              •     "PDA" is the adjusted deferred amount of the contribution for the 2015/2016 financial year;

              •     "A" is the sum of the consumer price index numbers for the June quarter in the 2014/2015 financial year and the September, December and March quarters in the 2015/2016 financial year;

              •     "B" is the sum of the consumer price index numbers for the June quarter in the 2013/2014 financial year and the September, December and March quarters in the 2014/2015 financial year.'.

Division 2—Statute law revision