Victorian Numbered Acts

STATE TAXATION AND OTHER ACTS AMENDMENT ACT 2016 (NO. 40 OF 2016) - SECT 46

In clause 4(1) of Schedule 1 to the Planning and Environment Act 1987 —

        (a)     in the definition of "PC", after "section 201SG(5)" insert "determined in accordance with this clause";

        (b)     for the definitions of "A" and "B" substitute —

    'A     is the sum of the consumer price index numbers for—

        (a)     the last reference period in the financial year 2 years earlier than the financial year in respect of which the maximum adjusted contribution is being determined; and

        (b)     each of the reference periods (other than the last) in the financial year immediately preceding the financial year in respect of which the maximum adjusted contribution is being determined;

    B     is the sum of the consumer price index numbers for—

        (a)     the last reference period in the financial year 3 years earlier than the financial year in respect of which the maximum adjusted contribution is being determined; and

        (b)     each of the reference periods (other than the last) in the financial year 2 years earlier than the financial year in respect of which the maximum adjusted contribution is being determined.

Example

In the case that the reference periods are the quarterly periods of a financial year, the variables for the determination of the maximum adjusted contribution for the 2016/2017 financial year are as follows—

              •     "PC" is the amount of the adjusted contribution for that type of land for the 2015/2016 financial year;

              •     "A" is the sum of the consumer price index numbers for the June quarter in the 2014/2015 financial year and the September, December and March quarters in the 2015/2016 financial year;

              •     "B" is the sum of the consumer price index numbers for the June quarter in the 2013/2014 financial year and the September, December and March quarters in the 2014/2015 financial year.'.