EDUCATION AND CARE SERVICES NATIONAL REGULATIONS 2012 - REG 233
EDUCATION AND CARE SERVICES NATIONAL REGULATIONS 2012 - REG 233
233 . Calculation of indexation factor for financial year
(1) For the purposes
of this Part, the indexation factor for a financial year is to be worked out
using the following formula —
where —
index number , for a quarter, means the All Groups
Consumer Price Index Number (being the weighted average of the 8 capital
cities) published by the Australian Bureau of Statistics for that quarter;
most recent March year means the period of
12 months ending on 31 March in the immediately preceding financial
year;
previous March year means the period of
12 months immediately preceding the most recent March year;
quarter means a period of 3 months ending on
31 March, 30 June, 30 September or 31 December.
(2) The result worked
out under subregulation (1) must be rounded up or down to 3 decimal
places, rounding up if the result ends in 0.0005.
(3) A calculation made
under subregulation (1) is to be made —
(a)
using the index numbers published in terms of the most recently published
reference base for the Consumer Price Index; and
(b)
disregarding index numbers that are published in substitution for previously
published index numbers (unless the substituted numbers are published to take
account of changes in the reference base).
[Regulation 233 inserted: SL 2023/71
r. 7.]