Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The pool top - up for a payment year is worked out using this table:
Pool top - up for a payment year | ||
Item | For this payment year: | The pool top - up is: |
1 | the 2020 - 21 payment year or an earlier payment year | $0 |
2 | the 2021 - 22 payment year | $600 million |
3 | the 2022 - 23 payment year | the sum of: (a) $600 million; and (b) the first indexation amount for that payment year |
4 | the 2023 - 24 payment year | the sum of: (a) $600 million; and (b) the first indexation amount for that payment year |
5 | the 2024 - 25 payment year | the sum of: (a) $850 million; and (b) the first indexation amount for that payment year |
6 | the 2025 - 26 payment year or a later payment year | the sum of: (a) $850 million; and (b) the first indexation amount for that payment year; and (c) the second indexation amount for that payment year |
(2) The first indexation amount for a payment year (the current year ) is the greater of:
(a) the amount worked out using the formula in subsection (3); and
(b) if the current year is the 2023 - 24 payment year or a later payment year--the first indexation amount for the last payment year before the current year; and
(c) otherwise--$0.
(3) The formula for paragraph (2)(a) is:
where:
"GST revenue for current year" is the GST revenue for the current year.
"GST revenue for 2021-22" is the GST revenue for the 2021 - 22 payment year.
(4) The second indexation amount for a payment year (the current year ) is the greater of:
(a) the amount worked out using the formula in subsection (5); and
(b) if the current year is the 2026 - 27 payment year or a later payment year--the second indexation amount for the last payment year before the current year; and
(c) otherwise--$0.
(5) The formula for paragraph (4)(a) is:
where:
"GST revenue for current year" is the GST revenue for the current year.
"GST revenue for 2024-25" is the GST revenue for the 2024 - 25 payment year.