Commonwealth Consolidated Regulations

SAFETY, REHABILITATION AND COMPENSATION REGULATIONS 2019 - REG 11

    For the purposes of subsection   8(9G) of the Act, the further increase in normal weekly earnings referred to in subsection   8(9F) is to be calculated, to 3 decimal places and rounded up to 2 decimal places, in accordance with the following formula:

where:

"F" is the greater of the following:

  (a)   the number (worked out to 4 decimal places and rounded up to 3 decimal places) obtained by dividing the index number by the previous index number;

  (b)   1.000.

"index number" is the index number of the Wage Price Index mentioned in section   10 for the quarter that ended on 31   December in the year immediately before the indexation date.

"previous index number" is the index number of the Wage Price Index mentioned in section   10 for the quarter that ended on 31   December in the previous year.

"WE" is the normal weekly earnings that applied immediately before the indexation date.

Note:   Under this formula, there will be a further increase in normal weekly earnings only if F is greater than 1.000.