Queensland Consolidated Regulations

TORRES STRAIT ISLANDER LAND REGULATION 2011 - REG 35

35 Prescribed percentage—Act, s 152

(1) For section 152 (2) of the Act , the percentage of the royalty amount received in a financial year is—

(a) 100% of each $1 of the royalty amount up to and including, but not more than, the threshold amount for paragraph (a) ; and

(b) 50% of each $1 of the royalty amount that is more than the threshold amount for paragraph (a) but not more than the threshold amount for paragraph (b) ; and

(c) 33.32% of each $1 of the royalty amount that is more than the threshold amount for paragraph (b) but not more than the threshold amount for paragraph (c) ; and

(d) 20% of each $1 of the royalty amount that is more than the threshold amount for paragraph (c) but not more than the threshold amount for paragraph (d) ; and

(e) 10% of each $1 of the royalty amount that is more than the threshold amount for paragraph (d) .

(2) In this section—

"consumer price index" means the all groups consumer price index for Brisbane published by the Australian Statistician.

"threshold amount" —

(a) for the financial year ending 30 June 2011—

(i) for paragraph (a) , means $100000; and

(ii) for paragraph (b) , means $200000; and

(iii) for paragraph (c) , means $500000; and

(iv) for paragraph (d) , means $1000000; and

(b) for a later financial year—for paragraphs (a) , (b) , (c) and (d) , means the threshold amount for the particular paragraph for the financial year immediately preceding the later financial year (the
"previous financial year" ) increased by the consumer price index for the previous financial year.