Victorian Numbered Acts Victorian Numbered Acts(1) The "CPI adjusted levy" for a levy year is to be determined in accordance with the following formula—
where—
C is the CPI adjusted levy being determined, rounded down to the nearest 2 decimal places;
L is the amount of the levy for the previous levy year;
A is the sum of the consumer price index numbers for the 4 consecutive quarters of December, March, June and September, with the March quarter being the March quarter of the previous levy year;
B is the sum of the consumer price index numbers for the 4 consecutive quarters of December, March, June and September, with the March quarter being the March quarter of the year that is 2 years before the levy year.
Example
In the case of a determination of the CPI adjusted levy for 2008, "L" is the amount of the levy for 2007, "A" is the sum of the consumer price index numbers for December 2006, March 2007, June 2007 and September 2007 and "B" is the sum of the consumer price index numbers for December 2005, March 2006, June 2006 and September 2006.
(2) The CPI adjusted levy determined under sub-section (1) is to be rounded up or down to the nearest $10 (and, if the amount by which the levy is to be rounded is $5, is to be rounded up).
(3) In this section—
"consumer price index" means the Consumer Price Index (All Groups Index) for Melbourne issued by the Australian Statistician (or, if the regulations prescribe another economic index for the purposes of this section, that other index).