Bankruptcy Amendment Regulations 2003 (No. 1) (76 of 2003)

Schedule 1   Amendments

[2]   After regulation 6.12B

insert

6.12C Family assistance and social security payments

(1) For subparagraph (b) (v) of the definition of income in section 139L of the Act, the following payments or amounts are not income of a bankrupt:

(a) a payment or amount of family tax benefit paid under the family assistance law;

(b) an amount that is not income for the purposes of the Social Security Act 1991 because of subsection 8 (8) of that Act, except for a payment or amount mentioned in paragraph (a), (h), (ha), (k), (ka), (m), (z), (za) or (zb) of that subsection.

(2) For this regulation, family assistance law has the same meaning as in the A New Tax System (Family Assistance) (Administration) Act 1999.


Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).