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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.]