AustLII Tasmanian Numbered Regulations

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CRIME (CONFISCATION OF PROFITS) REGULATIONS 2014 (S.R. 2014, NO. 117) - REG 10

Maximum value of property to be protected

(1)  In this regulation –
protected amount means the maximum value of ordinary tools of trade that are to be protected from restraint or forfeiture under the Act.
(2)  For the purposes of section 191(3)(a) of the Act, the protected amount under section 191(2)(a) is –
(a) in the case of the financial year commencing on 1 July 2014, $3 650 per person; and
(b) for the financial year commencing on 1 July 2015 and for each subsequent financial year, the amount per person calculated in accordance with the following formula and rounded off in accordance with subregulation (3) :
graphic image
where –
A is the value in dollars of the protected amount per person for the relevant financial year being calculated;
B is $3 650;
C is the value of the CPI figure for Hobart, that is referred to as the index number, published by the Australian Bureau of Statistics for the December quarter immediately preceding the financial year in which the protected amount is to apply;
D is the value of the CPI figure for Hobart, that is referred to as the index number, published by the Australian Bureau of Statistics for the December quarter 2013.
(3)  If the value of the protected amount, calculated in accordance with the formula specified in subregulation (2) is not a multiple of $10, the amount is to be rounded down to the nearest multiple of $10.


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