Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

INCOME TAX ASSESSMENT ACT 1997 - SECT 960.280

Index number

  (1)   In most cases, the index number for a * quarter is the All Groups Consumer Price Index number (being the weighted average of the 8 capital cities) first published by the Australian Statistician for the quarter.

Car limit

  (2)   For calculating the * car limit, the index number for a * quarter is the index number for the motor vehicle purchase sub - group of the Consumer Price Index, being the weighted average of the 8 capital cities, first published by the Australian Statistician for the quarter.

  (3)   If the Australian Statistician changes the index reference period for an * index number, only index numbers published in terms of the new index reference period are to be used after the change.

Genuine redundancy, early retirement schemes, pre - 1   July 88 funding credits

  (4)   For calculating the amounts mentioned in the provisions listed at items   5, 6 and 7 in section   960 - 265, the index number for a * quarter is the estimate of full - time adult average weekly ordinary time earnings for the middle month of the quarter first published by the Australian Statistician in respect of that month.

  (5)   Subsection   (3) does not apply to the index numbers mentioned in subsection   (4).

Exceptions

  (6)   This section does not apply in relation to amounts mentioned in the provisions listed at items   8 to 12, or at item   14, in section   960 - 265.

Note:   For the indexation of those amounts, see sections   960 - 285 and 960 - 290.


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback