Common use of Example One Clause in Contracts

Example One. For COLA Payment Year 3, the agreement year is 1 September 2024 to 31 August 2025. The wage increase under the Agreement is 3% on 1 September 2024. In April 2025, the ABS releases the CPI figure for March 2025 as 3.9%. The COLA Payment is calculated as the difference between 3% and 3.9%, i.e. 0.9%. 0.9% is less than the 3% cap, therefore the COLA percentage is 0.9%.

Example One. For COLA Payment Year 3, the agreement year is 1 September 2024 July 2025 to 31 August 202530 June 2026. The wage increase under the Agreement is 3% on 1 September 2024July 2025. In April 20252026, the ABS releases the CPI figure for March 2025 2026 as 3.9%. The COLA Payment is calculated as the difference between 3% and 3.9%, i.e. 0.9%. 0.9% is less than the 3% cap, therefore the COLA percentage is 0.9%.

Example One. For COLA Payment Year 3, the agreement year Agreement Year is 1 September 2024 July 2025 to 31 August 202530 June 2026. The wage increase under Wage Increase Under the Agreement is 3% on 1 September 2024July 2025. In April 2025July 2026, the ABS releases the CPI figure for March 2025 the 12 months to June 2026 as 3.9%. The COLA Payment is calculated as the difference between 3% and 3.9%, i.e. 0.9%. 0.9% is less than the 3% cap, therefore the COLA percentage is 0.9%.

Example One. For COLA Payment Year 3, the agreement year is 1 September April 2024 to 31 August March 2025. The wage increase under the Agreement is 3% on 1 September April 2024. In April 2025, the ABS releases the CPI figure for March 2025 as 3.9%. The COLA Payment is calculated as the difference between 3% and 3.9%, i.e. 0.9%. 0.9% is less than the 3% cap, therefore the COLA percentage is 0.9%.