Document ID: chunk:federal_register_of_legislation:F2024C01292:reg:29
Version: federal_register_of_legislation:F2024C01292
Segment Type: reg
Provision Reference: reg 29
Character Range: 42498–43502

29  Tools that are not available for payment of debts
  For the purposes of subparagraph 116(2)(c)(i) of the Act, the maximum total value of a bankrupt's property that is for use by the bankrupt in earning income by personal exertion is:
 (a) 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
 (b) if the date of the bankruptcy is in the financial year beginning on 1 July 2020—$3,800; or
 (c) if the date of the bankruptcy is in the financial year beginning on 1 July 2021 or a later financial year—$3,800:
 (i) indexed in accordance with section 114 of this instrument; and
 (ii) rounded down to the nearest multiple of $50.
Note: Indexed amounts could in 2021 be viewed on the Australian Financial Security Authority's website (http://www.afsa.gov.au).

Maximum total value of tools
Item                          Column 1        Column 2

                              Financial year  Amount