Bankruptcy Legislation Amendment Act 2002 (131 of 2002)

Schedule 1   Amendments

Part 1   Amendments

Bankruptcy Act 1966

90   At the end of section 139N

Add:

(2) A refund is not taken into account under paragraph (1)(b) if it relates to a year of income that ended before the date of the bankruptcy.

(3) If a refund relates to a year of income that commenced before, but ended after, the date of the bankruptcy, then it is taken into account under paragraph (1)(b) only to the extent that the refund is attributable to the part of the year of income after the date of bankruptcy. For this purpose, the refund is apportioned on a time basis.