New South Wales Consolidated Acts
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DUTIES ACT 1997 - SECT 33AC
33AC Adjustable amounts
(1) Each adjustable amount is to be adjusted for the year commencing on 1 July
2020, and each subsequent year, in accordance with this section.
adjustable amounts that are to apply for a year are to be calculated by
multiplying the adjustable amounts that applied before any adjustment under
this Division by A/B where--
"A" is the CPI number for the March quarter in the year immediately preceding
the year for which the amount is calculated.
"B" is the CPI number for the March quarter of 2019.
"A/B" is calculated to the nearest 3 decimal places (and a fourth decimal
place of 5 is to be rounded up).
(3) An adjustable amount determined in
accordance with this section is to be rounded to the nearest $1,000 (and an
amount of $500 is to be rounded up).
(4) However, if the adjustable amount
calculated for any year is less than the amount that applied for the previous
year, then the amount for that previous year applies instead.
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