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A NEW TAX SYSTEM (COMMONWEALTH-STATE FINANCIAL ARRANGEMENTS) ACT 1999 - SECT 8

Index factor
(1)
The index factor for a GST year is the factor worked out using the formula:

where:

"GST year index number" means the sum of the index numbers for each of the first 3 quarters in the GST year and the final quarter for the previous GST year.

"previous GST year index number" means the GST year index number for the previous GST year.

(2)
For the purposes of subsection (1), all financial years are taken to be GST years.


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