The Revenue Units Act 2009 commenced on 1 January 2010 and provides a scheme to allow for Northern Territory Government fees and charges to be expressed as a number of revenue units rather than dollar amounts. This provides a simple process for maintaining the real value of Territory fees and charges to take into account the effect of inflation.
The Act provides for the automatic annual adjustment of fees and charges by setting the value of a revenue unit in line with increases in the Darwin Consumer Price Index on 1 July of each year. The value of a revenue unit was set at $1 until 30 June 2011. See the table below for the past and current values of a revenue unit.
The adjustment is calculated on the movement in the Consumer Price Index for Darwin published by the Australian Bureau of Statistics for the four quarters of the calendar year immediately preceding the relevant financial year. Adjustment to the value of a revenue unit will be declared prior to the start of the financial year to which the change relates.
To calculate the value of a fee or charge expressed in revenue units, multiply the number of revenue units by the value of a revenue unit. The Act provides that where the monetary amount of a fee or charge expressed in revenue units is not a multiple of $1, the amount is rounded down to the nearest $1.
For example, if a revenue unit is $1.15, then the value of a fee expressed as 110 revenue units is $126
(110 x $1.15 = $126.50, rounded down to $126).
1 January 2010 - 30 June 2011
1 July 2011 - 30 June 2012
1 July 2012 - 30 June 2013
|1 July 2013 - 30 June 2014
|1 July 2014 - 30 June 2015
|1 July 2015 - 30 June 2016