b. WHAT IS THE ACTUAL INCOME THRESHOLD AMOUNT?(AITA) PART 4 OF 7.
The AITA is approx 3 1/2 times the maximum pension rate.
The AITA is based on an indexed figure and changes periodically. If you have dependants the income threshold amount increases in accordance with the number of dependants.
The trustee will send you a notice of assessment including the following:
-the amount you have to pay. (if any)
-how the amount was calculated.
-the dates your payments are due.
NOTE THE FOLLOWING IS A GUIDE ONLY:
Presently the GROSS expected income is approx $65.000 for a single bankrupt.
Less income tax and medicare levy.
After the deductions: the NETT expected income is approx $50.500
The amount will differ for each person/ if dependants/ if you are single bankrupt or a couple.
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