Commonwealth Numbered Regulations

BANKRUPTCY REGULATIONS 2021 (F2021L00261) - REG 26

                   For the purposes of paragraph 109(1)(e) of the Act, the maximum amount due to or in respect of an employee of a bankrupt 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--$4,600; or

                     (c)  if the date of the bankruptcy is in the financial year beginning on 1 July 2021 or a later financial year--$4,600:

                              (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).