Document ID: chunk:federal_register_of_legislation:F2024C01292:reg:26
Version: federal_register_of_legislation:F2024C01292
Segment Type: reg
Provision Reference: reg 26
Character Range: 36736–37686

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:
 (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—$4,600; or
 (c) if the date of the bankruptcy is in the financial year beginning on 1 July 2021 or a later financial year—$4,600:
 (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 amount payable to employee
Item                                Column 1        Column 2

                                    Financial year  Amount