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Section : Method for indexing the fee
Domain : Human Resource Management
Classification : Not Identified

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(3) If the application is made in a financial year starting on 1 July 2010, or 1 July in a later year (the application year ), the amount of the fee is to be worked out as follows:

(a) identify the amount of the fee for an application made in the previous financial year;
(b) multiply it by the indexation factor for the application year (see subregulation (4));
(c) round the result to the nearest multiple of 10 cents, rounding up if the result ends in 5 cents.

(4) The indexation factor for the application year is worked out using the following formula, and then rounded under subregulation (5): Sum of index numbers for quarters in most recent March year Sum of index numbers for quarters in previous March year where: index number , for a quarter, means the All Groups Consumer Price Index Number (being the weighted average of the 8 capital cities) published by the Australian Statistician for that quarter. most recent March year means the period of 12 months ending on 31 March in the financial year that occurred immediately before the application year.