Realisations charge
The government charge a levy on all realisations made in respect of administrations under the Bankruptcy Act 1966. This levy is called the realisations charge. The legislation covering this charge and the related interest charge is set out in the Bankruptcy (Estate Charges) Act 1997. See the current and historical table of realisations charge rates below.
|
Period from |
Period to |
Applicable Rate |
|---|---|---|
| 1 July 2015 | Current | 7% |
| 1 July 2014 | 30 June 2015 | 6% |
| 1 July 2013 | 30 June 2014 | 4.7% |
|
1 July 2011 |
30 June 2013 |
4.4% |
|
1 July 2010 |
30 June 2011 |
4% |
|
1 July 2007 |
30 June 2010 |
3.5% |
|
1 July 2006 |
30 June 2007 |
6% |
|
1 November 1996 |
30 June 2006 |
8% |
Interest charge
- interest earned on money held in personal insolvency accounts, less allowable deductions, is payable to the Commonwealth
- both interest and the realisations charge are payable to the Commonwealth on an annual basis