216. Unless otherwise provided for, all amounts specified in this Regulation, except those specified in Schedules I to IV and VI to XI, and the amount provided for in paragraph 1 of section 212, are indexed on 1 January of each year by multiplying the amount to be indexed by the ratio between the consumer price index for the current year and consumer price index for the preceding year.
The Consumer Price Index for a year is the yearly average computed on the basis of the monthly Consumer Price Indexes for Canada established by Statistics Canada for the 12 months preceding 1 November of the year preceding the year for which the Index is calculated.
If, on 1 December of a year, the data furnished by Statistics Canada are incomplete, the Minister may use the data then available to establish the Consumer Price Index.
If Statistics Canada uses a new method to compute the monthly Consumer Price Index by modifying the time basis or the content basis in question and if that modification entails a variation of more than 1% in the yearly average, the monthly indexes used to establish the yearly average for each of the years affected by the change of method shall be adjusted by the Minister in such a way as to take into account the data according to the method used by Statistics Canada on 19 August 1985.
If the yearly average computed on the basis of the monthly Consumer Price Indexes contains more than one decimal, only the first is retained and it is increased by one numeral if the second is greater than the figure 4.
If the ratio of the Consumer Price Index for the current year to that for the preceding year contains more than 3 decimals, only the first 3 decimals are retained and the third is increased by one numeral if the fourth is greater than the figure 4.
The amount obtained by indexation is rounded off to the nearest dollar.
1266-2021O.C. 1266-2021, s. 216.