Essential Skills: Bankruptcy
Income contribution assessments

Assessing a bankrupt’s income contributions is complicated by the wide definition of ‘income’ contained in s 139W of the Bankruptcy Act.

This course explains what constitutes ‘income’ for the purposes of the Act, how the compulsory contribution scheme works and the resources available to assist collecting contributions payable.

You’ll gain a working knowledge of how to assess a bankrupt’s income for the purposes of determining the contribution payable, and the framework and tools available for the collection of contributions.

Learning objectives

At the end of this course you will be able to:

• Explain the legislative requirements for income contribution assessments
• Determine a bankrupt’s income for the purposes of an income contribution assessment
• Calculate the contribution payable by the bankrupt
• Outline the contribution collection process
• Discuss a bankrupt’s rights for review and hardship application

Prerequisites

We recommend you have one year of on-the-job experience prior to attending these courses.

CPE

TBC - maximum of 2 CPE verifiable hours. 

Please see our enrolment and cancellation policy . For further information contact our education team.