Commonwealth Consolidated Regulations Commonwealth Consolidated RegulationsFor the purposes of subparagraph 116(2)(c)(i) of the Act, the maximum total value of a bankrupt's property that is for use by the bankrupt in earning income by personal exertion is:
(a) if the date of the bankruptcy is in a financial year specified in column 1 of an item of the following table--the amount specified in column 2 of that item; or
(b) if the date of the bankruptcy is in the financial year beginning on 1 July 2020--$3,800; or
(c) if the date of the bankruptcy is in the financial year beginning on 1 July 2021 or a later financial year--$3,800:
(i) indexed in accordance with section 114 of this instrument; and
(ii) rounded down to the nearest multiple of $50.
Note: Indexed amounts could in 2021 be viewed on the Australian Financial Security Authority's website (http://www.afsa.gov.au).
Maximum total value of tools | ||
Item | Column 1 Financial year | Column 2 Amount |
1 | 2019 - 20 | $3,800 |
2 | 2018 - 19 | $3,800 |
3 | 2017 - 18 | $3,750 |
4 | 2016 - 17 | $3,700 |
5 | 2015 - 16 | $3,650 |
6 | 2014 - 15 | $3,600 |
7 | 2013 - 14 | $3,550 |
8 | 2012 - 13 | $3,500 |
9 | 2011 - 12 | $3,450 |
10 | 2010 - 11 | $3,400 |
11 | 2009 - 10 | $3,300 |
12 | 2008 - 09 | $3,250 |
13 | 2007 - 08 | $3,200 |
14 | 2006 - 07 | $3,100 |
15 | 2005 - 06 | $3,050 |
16 | 2004 - 05 | $3,000 |
17 | 2003 - 04 | $2,950 |
18 | 2002 - 03 | $2,900 |
19 | 2001 - 02 | $2,850 |
20 | 2000 - 01 | $2,800 |
21 | 1999 - 2000 | $2,650 |
22 | 1998 - 99 | $2,600 |
23 | 1997 - 98 | $2,600 |
24 | 1996 - 97 | $2,600 |