Section 139S — Bankruptcy Act 1966 (Cth)

The contribution that a bankrupt is liable to pay in respect of a contribution assessment period is the amount worked out in accordance with the formula:

where:

Assessed income means the amount assessed by the trustee to be the income that the bankrupt is likely to derive, or derived, during the contribution assessment period.

Actual income threshold amount means the actual income threshold amount assessed by the trustee to be applicable in relation to the bankrupt when the assessment is made.

Related sections

• s 139P — Liability of bankrupt to pay contribution
• s 139Q — Change in liability of bankrupt
• s 139R — Liability not affected by subsequent discharge
• s 139T — Determination of higher income threshold in cases of hardship
• s 139U — Bankrupt to provide evidence of income
• s 139V — Power of trustee to require bankrupt to provide additional evidence

Research how courts apply s 139S

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