Bankruptcy Regulations 2021

PART 6 - ADMINISTRATION OF PROPERTY  

Division 2 - Order of payment of debts  

SECTION 26  

26   MAXIMUM AMOUNT PAYABLE TO EMPLOYEE  
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.