Queensland Consolidated Regulations

BUILDING AND CONSTRUCTION INDUSTRY (PORTABLE LONG SERVICE LEAVE) REGULATION 2024 - REG 10

10 Rate of remuneration payable to assessment manager or local government—Act, s 77

(1) For section 77 (3) of the Act , the rate prescribed for each approved form or written advice seen is—

(a) $6.14; or

(b) the higher amount worked out under subsections (2) to (4) .

(2) The rate is adjusted each year on 1 July using the formula—

where—

"A" is the rate immediately before 1 July in the year.

"B" is the CPI published for the March quarter in the year.

"C" is the CPI published for the corresponding quarter in the previous year.

(3) However, if in a particular year the adjustment of the rate under subsection (2) would reduce the amount of the rate, the rate must not be adjusted in that year.

(4) In this section—

"CPI" means the index number for Brisbane stated in the all groups consumer price index numbers and percentage changes published by the Australian Bureau of Statistics.