Motor vehicles that are not available for payment of debts
30 Motor vehicles that are not available for payment of debts
For the purposes of paragraph 116(2)(ca) of the Act, the maximum aggregate value of property used by the bankrupt primarily as a means of transport 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—$8,100; or
if the date of the bankruptcy is in the financial year beginning on 1 July 2021 or a later financial year—$8,100:
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 value of motor vehicle | ||
|---|---|---|
Item | Column 1 Financial year | Column 2 Amount |
1 | 2019‑20 | $8,100 |
2 | 2018‑19 | $8,000 |
3 | 2017‑18 | $7,900 |
4 | 2016‑17 | $7,800 |
5 | 2015‑16 | $7,700 |
6 | 2014‑15 | $7,600 |
7 | 2013‑14 | $7,500 |
8 | 2012‑13 | $7,350 |
9 | 2011‑12 | $7,200 |
10 | 2010‑11 | $7,050 |
11 | 2009‑10 | $6,850 |
12 | 2008‑09 | $6,700 |
13 | 2007‑08 | $6,500 |
14 | 2006‑07 | $6,300 |
15 | 2005‑06 | $6,150 |
16 | 2004‑05 | $6,000 |
17 | 2003‑04 | $5,900 |
18 | 2002‑03 | $5,800 |
19 | 2001‑02 | $5,650 |
20 | 2000‑01 | $5,500 |
21 | 1999‑2000 | $5,200 |
22 | 1998‑99 | $5,050 |
23 | 1997‑98 | $5,000 |
24 | 1996‑97 | $5,000 |
This Act’s bill:Explanatory statement
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