Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Section 13 of the Principal Act is repealed and the following section is substituted:
13 Incentive grant entitlements
Subject to this Act, the incentive grant entitlement of a claimant in relation to a grant year is an amount equal to:
(a) where his export earnings increment for that year does not exceed $500,000--7.5% of that increment;
(b) where his export earnings increment for that year exceeds $500,000 but does not exceed $5,000,000--the sum of $37,500 and an amount equal to 5% of the difference between that increment and $500,000;
(c) where his export earnings increment for that year exceeds $5,000,000 but does not exceed $10,000,000--the sum of $262,500 and an amount equal to 2.5% of the difference between that increment and $5,000,000; or
(d) where his export earnings increment for that year exceeds $10,000,000--the sum of $387,500 and an amount equal to 1.25% of the difference between that increment and $10,000,000.
(2) The amendment made by subsection ( 1) applies in respect of the grant year commencing on 1 July 1982 and section 13 of the Principal Act continues to apply in respect of earlier grant years.