24.2. Subject to section 24.3, the amount applicable for a fiscal year, referred to as “the fiscal year concerned” , is the result obtained by indexing upward the amount applicable for the preceding fiscal year.
The indexation consists in increasing the amount applicable for the preceding fiscal year by a percentage corresponding to the rate of increase, according to Statistics Canada, of the Consumer Price Index for Canada.
That rate is established by
(1) subtracting the index established for the third month of December preceding the fiscal year concerned from the index established for the second month of December preceding that fiscal year; and
(2) dividing the difference obtained under subparagraph 1 by the index established for the third month of December preceding the fiscal year concerned.
If the indexation results in a mixed number,
(1) for an amount under section 12, only the first three decimal places are considered;
(2) for another amount, only the integer is used and it is rounded up if the first decimal is greater than 4.