Commonwealth Numbered Regulations

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BANKRUPTCY REGULATIONS 2021 (F2021L00261) - REG 29

Tools that are not available for payment of debts

                   For 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

 


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