The Guides to Social Policy Law is a collection of publications designed to assist decision makers administering social policy law. The information contained in this publication is intended only as a guide to relevant legislation/policy. The information is accurate as at the date listed at the bottom of the page, but may be subject to change. To discuss individual circumstances please contact Services Australia.

1.1.I.110 Index number

Usage

This definition applies to most payments and to many numerical thresholds and limits.

Definition

Generally speaking, an index number is a number which measures a quantity such as prices or wages at a point, or for a period, in time relative to what the number was at a previous point, or for a previous period, in time. In the SSAct, the term 'index number' refers to the numerical value of the CPI and the term 'living cost index number' refers to the numerical value of the Pensioner and Beneficiary Living Cost Index (PBLCI). Both of these indices are produced and released by the Australian Statistician.

Please refer to the definition of the above indices in the SSAct.

Act reference: SSAct section 9A Meaning of asset-test exempt income stream-lifetime income streams, section 9B Meaning of asset-test exempt income stream-life expectancy income streams, section 20(1)-'index number', section 1197(2) For the purposes of this section, the living cost index number …

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