1.1.R.70 Recent index number, base index number

Usage

This definition applies to all payments.

Definition: recent index number

In relation to the indexation (1.1.I.100) of a payment, the recent index number is the index number for the second last quarter before the day on which the first of those indexed payments is to be made.

Example: CPI

Definition: base index number

The base index number is the index number for the same quarter as the recent index number but for the immediately preceding year.

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

Last reviewed: 1 July 2016