Victorian Numbered Regulations

ROAD SAFETY (DRIVERS) AND (VEHICLES) AMENDMENT (FEES) REGULATIONS 2016 (SR NO 50 OF 2016) - REG 10

    (1)     The annual adjustment factor for a financial year (the relevant year ) is to be calculated in accordance with this clause.

    (2)     First, the Revised Adjusted Base Cost ( RABC ) is to be calculated in accordance with Part 4.

    (3)     Next, the following formula is to be applied

where—

        FR     is the estimated total amount of the road user charge as calculated in accordance with clause 11;

        RR     is the estimated revenue raised in relation to heavy vehicles by the road component of registration charges in Australia as calculated in accordance with clause 12.

    (4)     Finally, the amount determined under subclause (3) is to be rounded up or down to one decimal place (rounding an amount of 0∙05 upwards).

    (5)     The result is the annual adjustment factor expressed as a percentage.