BANKRUPTCY ACT 1966

PART VI - ADMINISTRATION OF PROPERTY  

Division 4B - Contribution by bankrupt and recovery of property  

Subdivision F - Assessments of income and contribution  

SECTION 139Z   IF BANKRUPT CLAIMS NOT TO BE IN RECEIPT OF INCOME  

139Z(1)   [Trustee may determine]  

If a bankrupt:


(a) does not provide information about whether he or she is likely to derive, or derived, income or a particular class of income during a contribution assessment period; or


(b) claims not to be likely to derive, or not to have derived, any income or a particular class of income during a contribution assessment period;

but the trustee has reasonable grounds for believing that the bankrupt is likely to derive, or derived, income, or income of that class, during that period, then, for the purpose of making an assessment, the trustee may determine that the bankrupt is likely to derive, or derived, income, or income of that class, during that period and may also determine the amount of that income.

139Z(2)   [Trustee may take into account]  

Without limiting the matters that a trustee may take into account for the purpose of making an assessment as mentioned in subsection (1) in respect of a contribution assessment period, the trustee may have regard to any employment or other work or other income-producing activities that were engaged in by the bankrupt before that period and may determine whether the bankrupt is likely to engage, or to have engaged, in similar employment, work or other income-producing activities during that period.




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