Maximum amount payable to employee
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:
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
if the date of the bankruptcy is in the financial year beginning on 1 July 2020—$4,600; or
if the date of the bankruptcy is in the financial year beginning on 1 July 2021 or a later financial year—$4,600:
indexed in accordance with section 114 of this instrument; and
rounded down to the nearest multiple of $50.
Indexed amounts could in 2021 be viewed on the Australian Financial Security Authority’s website (http://www.afsa.gov.au).
Maximum amount payable to employee | ||
|---|---|---|
Item | Column 1 Financial year | Column 2 Amount |
1 | 2019‑20 | $4,600 |
2 | 2018‑19 | $4,550 |
3 | 2017‑18 | $4,500 |
4 | 2016‑17 | $4,450 |
5 | 2015‑16 | $4,400 |
6 | 2014‑15 | $4,350 |
7 | 2013‑14 | $4,300 |
8 | 2012‑13 | $4,200 |
9 | 2011‑12 | $4,150 |
10 | 2010‑11 | $4,100 |
11 | 2009‑10 | $4,000 |
12 | 2008‑09 | $3,950 |
13 | 2007‑08 | $3,850 |
14 | 2006‑07 | $3,750 |
15 | 2005‑06 | $3,650 |
16 | 2004‑05 | $3,550 |
17 | 2003‑04 | $3,500 |
18 | 2002‑03 | $3,450 |
19 | 2001‑02 | $3,350 |
20 | 2000‑01 | $3,300 |
21 | 1999‑2000 | $3,150 |
22 | 1998‑99 | $3,100 |
23 | 1997‑98 | $3,100 |
24 | 1996‑97 | $3,100 |
This Act’s bill:Explanatory statement
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