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Step 1, 1 = Identify the assessment of current average weekly ordinary time earnings published by the Australian Statistician for February 2008 and in effect on 1 July 2008.. Step 2, 1 = Divide it by the assessment of current average weekly ordinary time earnings published by the Australian Statistician for May 2007 and in effect on 27 August 2007.. Step 3, 1 = Note This is the amount of the average weekly ordinary time earnings, seasonally adjusted, for full-time adult employees of all employees in Australia for that day.. , 1 = Round the result to 3 decimal places. If the fourth decimal place is 5 or above, round it up. If the rounded result is less than 1, the rounded result becomes 1.. , 1 = Multiply $100 000 by the rounded result. If the result is not a multiple of $100, round the result to the nearest multiple of $100. If the result is a multiple of $50, round it up to the. , 1 = next multiple of $100.. , 1 = This result will be indexed again in step 6. Chapter 2 Part 2-9 Division 3 Terms and conditions of employment Other terms and conditions of employment Guarantee of annual earnings