BANKRUPTCY ACT 1966

PART VI - ADMINISTRATION OF PROPERTY  

Division 4B - Contribution by bankrupt and recovery of property  

Subdivision D - Liability of bankrupt to pay contributions  

SECTION 139S   139S   CONTRIBUTION PAYABLE BY BANKRUPT  
The contribution that a bankrupt is liable to pay in respect of a contribution assessment period is the amount worked out in accordance with the formula:


Assessed income - Actual income threshold amount
2

where:

Assessed income
means the amount assessed by the trustee to be the income that the bankrupt is likely to derive, or derived, during the contribution assessment period.

Actual income threshold amount
means the actual income threshold amount assessed by the trustee to be applicable in relation to the bankrupt when the assessment is made.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.