{"id":"C2004A05113","name":"Bankruptcy (Estate Charges) Act 1997","slug":"bankruptcy-estate-charges-act-1997","collection":"act","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"12 of 1997","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":27122,"registerId":"commonwealth-C2004A05113-current","compilationNumber":null,"startDate":"2026-04-01","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Part 1","sectionType":"part","heading":"Preliminary","content":"## Part 1—Preliminary","sortOrder":0},{"sectionNumber":"1","sectionType":"section","heading":"Short title","content":"#### 1 Short title\n\n  This Act may be cited as the Bankruptcy (Estate Charges) Act 1997.","sortOrder":1},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"#### 2 Commencement\n\n  (1) Subject to subsection (2), this Act commences on a day to be fixed by Proclamation.\n  (2) If this Act does not commence within 6 months after the day on which this Act receives the Royal Assent, it commences on the first day after the end of that period.","sortOrder":2},{"sectionNumber":"3","sectionType":"section","heading":"Act to bind the Commonwealth Crown","content":"#### 3 Act to bind the Commonwealth Crown\n\n  This Act binds the Crown in right of the Commonwealth. However, it does not bind the Crown in right of a State, of the Australian Capital Territory or of the Northern Territory.","sortOrder":3},{"sectionNumber":"4","sectionType":"section","heading":"Interpretation","content":"#### 4 Interpretation\n\n  (1) In this Act:\n\n> charge period means a financial year.\n\n  (2) Unless the contrary intention appears, other expressions used in this Act have the same meanings as in the Bankruptcy Act 1966.","sortOrder":4},{"sectionNumber":"Part 2","sectionType":"part","heading":"Interest charge","content":"## Part 2—Interest charge","sortOrder":5},{"sectionNumber":"5","sectionType":"section","heading":"Interest charge","content":"#### 5 Interest charge\n\n  (1) An amount of interest to which a person is entitled, in his or her personal capacity, under subsection 185LD(3) of, or subsection 65‑31(1) of Schedule 2 to, the Bankruptcy Act 1966 is payable to the Commonwealth as a charge.\n  (1A) No charge is payable by a person in respect of an account for a charge period if the amount of that charge would be less than $10, or a higher amount prescribed by the regulations.\n  (3) The charge is payable by the person.\n  (4) The charge is payable within 35 days after the end of the charge period in which the interest was paid.","sortOrder":6},{"sectionNumber":"Part 3","sectionType":"part","heading":"Realisations charge","content":"## Part 3—Realisations charge","sortOrder":7},{"sectionNumber":"6","sectionType":"section","heading":"Realisations charge","content":"#### 6 Realisations charge\n\n  (1) A charge, calculated in accordance with sections 7 and 8, is imposed in respect of amounts received by a person (including the Official Trustee) who, during a charge period:\n    (a) is the trustee of the estate of a bankrupt under the Bankruptcy Act 1966; or\n    (aa) is the trustee of a composition or scheme of arrangement under Division 6 of Part IV of the Bankruptcy Act 1966; or\n    (ab) is the administrator of a debt agreement under Part IX of the Bankruptcy Act 1966; or\n    (b) is controlling trustee in relation to a debtor whose property has become subject to control under Division 2 of Part X of the Bankruptcy Act 1966; or\n    (c) is the trustee of a personal insolvency agreement executed in relation to a debtor under Part X of the Bankruptcy Act 1966; or\n    (d) is the trustee of the estate of a deceased person under Part XI of the Bankruptcy Act 1966.\n  (1A) No charge is payable by a person for a charge period in respect of a particular estate, personal insolvency agreement, composition or debtor (as the case requires) if the amount of that charge would be less than $10, or a higher amount prescribed by the regulations.\n  (2) The charge is payable by the person to the Commonwealth.\n  (3) The charge is payable within 35 days after the end of the charge period.","sortOrder":8},{"sectionNumber":"6A","sectionType":"section","heading":"Charge not payable on estate surplus","content":"#### 6A Charge not payable on estate surplus\n\n  (1) If:\n    (a) the person receives an amount in respect of a bankrupt’s estate; and\n    (b) as a result of receiving the amount, the person becomes able to pay off all the bankrupt’s debts;\n  then the following amounts are not taken into account in determining the amount on which charge is payable:\n    (c) any excess of the received amount over the amount needed to pay off all the bankrupt’s debts;\n    (d) any amount later received by the person in respect of the estate.\n  (2) In this section:\n\n> bankrupt’s debts has the same meaning as in subsection 153A(6) of the Bankruptcy Act 1966.","sortOrder":9},{"sectionNumber":"7","sectionType":"section","heading":"Amount of charge payable","content":"#### 7 Amount of charge payable\n\n  (1) The amount of charge payable for a charge period is the percentage, determined by the Minister by legislative instrument, of the amount on which charge is payable for the period.\n  (2) The Minister may make a legislative instrument determining the percentage.\n  (3) The percentage determined must not be more than 15%.","sortOrder":10},{"sectionNumber":"7A","sectionType":"section","heading":"Certain amounts treated as being received by person","content":"#### 7A Certain amounts treated as being received by person\n\n  For the purposes of this Part, an amount is treated as received by the person if it is applied or dealt with on behalf of the person, or in accordance with the person’s directions.","sortOrder":11},{"sectionNumber":"8","sectionType":"section","heading":"Working out the amount on which charge is payable","content":"#### 8 Working out the amount on which charge is payable\n\n  (1) The amount on which charge is payable for a charge period is the amount realised less the permitted deductions.\n  (2) The amount realised is the total amount received by the person in the capacity referred to in subsection 6(1) during the charge period, but not including:\n    (a) amounts paid to the person by creditors under an indemnity in respect of costs; or\n    (b) amounts paid to the person under section 305 of the Bankruptcy Act 1966.\n  (3) The permitted deductions are all amounts paid by the person in the capacity referred to in subsection 6(1) during the charge period that are:\n    (a) amounts paid by the person in carrying on the business of the bankrupt, deceased person or debtor; or\n    (b) amounts paid to secured creditors.\n  (4) Once an amount has been taken into account for the purposes of subsection (2) as an amount received, the whole or part of the amount is not to be taken into account again as an amount received for the purposes of another application of that subsection.","sortOrder":12},{"sectionNumber":"Part 4","sectionType":"part","heading":"Miscellaneous","content":"## Part 4—Miscellaneous","sortOrder":13},{"sectionNumber":"9","sectionType":"section","heading":"Regulations","content":"#### 9 Regulations\n\n  The Governor‑General may make regulations prescribing matters:\n    (a) required or permitted by this Act to be prescribed; or\n    (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.","sortOrder":14}],"analysis":{"issue_detection":{"absurdities":[{"type":"other","section":"5(1) and 5(3)","severity":"low","reasoning":"Subsection (2) is missing from section 5 — the numbering jumps from (1A) to (3). This suggests a repealed provision was removed without renumbering, leaving a structural oddity. While not strictly a logical flaw in the surviving provisions, it creates potential confusion about whether any obligation was intended to occupy that position. The substantive effect of (1) and (3) is also somewhat redundant.","confidence":0.72,"description":"Section 5(1) states the interest amount 'is payable to the Commonwealth as a charge' but section 5(3) separately states 'The charge is payable by the person.' These two subsections state the same legal obligation redundantly but from different directions, with subsection (2) entirely absent from the text, creating a structural gap in the numbering that suggests legislative history has left a drafting anomaly."},{"type":"other","section":"5(1A)","severity":"medium","reasoning":"Section 4(2) provides that expressions in this Act have the same meanings as in the Bankruptcy Act 1966 unless contrary intention appears. However, 'account' in this specific context (an account for a charge period for interest charge purposes) is not a term of art defined in the Bankruptcy Act 1966 in a way that maps cleanly onto the interest charge mechanism. This creates genuine ambiguity about whether the threshold applies per-account, per-person, or per-period.","confidence":0.65,"description":"The de minimis threshold in section 5(1A) refers to 'an account for a charge period' but Part 2 nowhere establishes or defines what 'account' means in this context. The interest charge under section 5(1) arises from entitlements under specific subsections of the Bankruptcy Act 1966, and there is no 'account' framework established in this Act, making the operative scope of the threshold uncertain."},{"type":"circular_definition","section":"7(1) and 7(2)","severity":"high","reasoning":"The charge is defined entirely by reference to a percentage that exists only if the Minister has exercised a discretionary power. If the Minister has not made a determination, section 7(1) produces no calculable charge amount, meaning section 6 imposes a charge but sections 7 and 8 cannot quantify it. The Act contains no default percentage and no consequence for the Minister's failure to act, creating an impossible compliance scenario for trustees who are legally obligated to pay an amount that cannot be computed.","confidence":0.85,"description":"Section 7(1) states the charge is 'the percentage, determined by the Minister by legislative instrument' and section 7(2) then separately states 'The Minister may make a legislative instrument determining the percentage.' This is circular and redundant — subsection (1) mandates the Minister's determination as the operative mechanism, while subsection (2) merely restates the power without adding anything. More critically, if no such legislative instrument has been made, the charge amount is legally indeterminate and the charge mechanism cannot operate."},{"type":"impossible_compliance","section":"6A(1)","severity":"medium","reasoning":"The section requires a precise determination of whether receipt of a particular amount tips the estate into surplus at the moment of receipt. In complex administrations with disputed debts, unliquidated claims, or contingent liabilities, this point cannot be identified with precision at the time of receipt. Yet the legal consequences — exclusion of that amount and all future amounts from the charge base — depend on identifying this exact moment. This creates a compliance impossibility in all but the simplest estates.","confidence":0.75,"description":"Section 6A creates a charge exemption for estate surpluses, but the trigger condition — the person 'becomes able to pay off all the bankrupt's debts' upon receiving an amount — is assessed at the moment of receipt. This creates a temporal absurdity: the trustee must assess solvency at the moment of receiving each payment to determine whether charge is payable on that or any future payment, yet in practice debts may fluctuate, be disputed, or be subject to proof, making real-time solvency assessment at each receipt practically impossible."},{"type":"self_contradicting","section":"3","severity":"medium","reasoning":"If a State public trustee acts as trustee of a deceased insolvent estate under Part XI, they may be acting as an emanation of the Crown in right of a State. Section 3 expressly excludes such entities from the Act's binding effect. Yet section 6(1)(d) on its face purports to impose the charge on any 'trustee of the estate of a deceased person under Part XI.' The interaction between these provisions is unresolved and could result in similarly-situated trustees being treated differently based solely on their governmental status.","confidence":0.68,"description":"The Act binds only the Crown in right of the Commonwealth, not States or Territories. However, section 6(1)(d) imposes the realisations charge on trustees of deceased estates under Part XI of the Bankruptcy Act 1966, which can include public trustees appointed by State or Territory governments acting in their governmental capacity. The exclusion of State and Territory Crowns may inadvertently exempt certain State-appointed trustees from the charge."}],"contradictions":[{"severity":"low","section_a":"6(1A)","section_b":"8(1)","confidence":0.7,"description":"Section 6(1A) provides that no charge is payable if the charge amount would be less than $10, but section 8(1) defines the 'amount on which charge is payable' as 'the amount realised less the permitted deductions.' The de minimis threshold in 6(1A) requires computing the charge to determine if it falls below $10, which in turn requires computing the section 8 base amount and applying the Minister's percentage under section 7. This means a trustee must perform the full charge calculation before knowing whether any charge obligation arises at all — a logical inversion of how threshold exemptions typically operate."},{"severity":"low","section_a":"5(1)","section_b":"5(3)","confidence":0.55,"description":"Section 5(1) characterises the interest amount as being 'payable to the Commonwealth as a charge' — framing the Commonwealth as the recipient. Section 5(3) states 'The charge is payable by the person' — framing the person as the payer. While not strictly contradictory in outcome, the two subsections describe the same obligation from incompatible structural perspectives without the missing subsection (2) to bridge them, and together with the absent subsection create ambiguity about the complete legal character of the obligation."},{"severity":"medium","section_a":"7(3)","section_b":"7(1) and 7(2)","confidence":0.78,"description":"Section 7(3) provides that the percentage 'must not be more than 15%' but sections 7(1) and 7(2) confer an unconstrained discretion on the Minister to determine any percentage, with the cap in 7(3) being the only limit. However, the Act sets no floor and no default. A Minister could lawfully determine a percentage of 0%, which would render the entire realisations charge regime inoperative while technically complying with the Act. This creates a potential conflict between the Act's evident purpose of raising revenue for the Commonwealth and the Minister's power to nullify that purpose entirely."},{"severity":"medium","section_a":"8(2)","section_b":"7A","confidence":0.72,"description":"Section 8(2) defines the 'amount realised' as 'the total amount received by the person' during the charge period. Section 7A provides that an amount is 'treated as received' if it is 'applied or dealt with on behalf of the person, or in accordance with the person's directions.' Section 8(2)(a) then excludes from the amount realised amounts 'paid to the person by creditors under an indemnity in respect of costs.' The interaction of 7A's deeming provision with 8(2)'s exclusions is not addressed — it is unclear whether a deemed receipt under 7A can qualify for the exclusions in 8(2)(a) and (b), which are framed as amounts 'paid to the person' rather than amounts treated as received."}]},"kimi_summary":{"_metrics":{"model":"kimi-k2.6","source":"moonshot-batch-reanalyse","citationCount":18,"completionTokens":2258},"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"The Act remains tightly focused on imposing interest and realisations charges on bankruptcy and insolvency estates, consistent with its original purpose."},"complexity_factors":["Frequent cross-references to the Bankruptcy Act 1966 required to understand key definitions and which insolvency roles are covered","Calculation of the realisations charge depends on delegated legislation (a legislative instrument) setting the percentage rate","Multiple carve-outs and thresholds, including a $10 minimum charge exemption and an estate surplus exclusion"],"plain_english_summary":"This Act creates two types of charges — essentially fees owed to the Commonwealth — that apply in bankruptcy and personal insolvency matters.\n\n**What it does**\n\nThe Act requires certain people who manage insolvent estates or agreements to pay charges on money they receive or interest they earn.\n\n**Interest charge (Part 2)**\nIf a person is entitled to interest under the *Bankruptcy Act 1966*, that interest must be paid to the Commonwealth as a charge. The charge only applies if it is **$10 or more** (or a higher amount set by regulations). It must be paid within **35 days** after the end of the financial year (called a “charge period”).\n\n**Realisations charge (Part 3)**\nTrustees, administrators, and controlling trustees who handle money from bankrupt estates, debt agreements, personal insolvency agreements, and similar arrangements must pay a charge on the amounts they receive.\n- The charge is a percentage of the money received, minus certain allowed deductions (such as money paid to secured creditors or to keep a business running).\n- The exact percentage is set by the Minister by legislative instrument (a type of regulation), but it **cannot exceed 15%**.\n- The charge does not apply to surplus amounts if the estate has enough money to pay off all the bankrupt’s debts.\n- It is only payable if the charge for a particular estate or agreement is **$10 or more**.\n\n**Other key points**\n- Terms not defined in this Act generally have the same meaning as in the *Bankruptcy Act 1966*.\n- The Governor-General can make regulations to support the Act."},"summary":{"complexity_score":5,"scope_assessment":{"changed":false,"description":"The Act appears to operate consistently with its evident original purpose: imposing standardised government levies on trustees and administrators managing insolvency estates to fund the bankruptcy system. There are no obvious signs of scope creep or departure from the original intent. The inclusion of debt agreement administrators (section 6(1)(ab)) reflects the evolution of insolvency arrangements under the Bankruptcy Act 1966 but is a logical and consistent extension of the original charging framework."},"complexity_factors":["Cross-references to multiple provisions of the Bankruptcy Act 1966, requiring familiarity with that separate and complex legislation to fully understand scope","Two distinct charging mechanisms (interest charge and realisations charge) with different calculation methods and triggers","The realisations charge calculation involves multiple variables: gross receipts, permitted deductions, exclusions, and a ministerially-determined percentage rate","The estate surplus exemption (section 6A) requires understanding of what constitutes 'bankrupt's debts' as defined in another Act","The charge applies across several different insolvency arrangements (bankruptcy, debt agreements, personal insolvency agreements, deceased estates, compositions) each with their own legal characteristics","The Minister has ongoing legislative instrument-making power to vary the charge percentage, meaning the effective rate is not fixed on the face of the Act"],"plain_english_summary":"## Bankruptcy (Estate Charges) Act 1997\n\n### What does this law do?\nThis Act creates two types of fees (called \"charges\") that must be paid to the Australian Commonwealth government when someone manages the financial affairs of a bankrupt person or a deceased person's estate.\n\n### Who does this affect?\nThis law primarily affects **trustees and administrators** — the professionals appointed to manage the money and assets of:\n- People who have been declared bankrupt\n- People who have entered into formal debt repayment arrangements (like debt agreements or personal insolvency agreements)\n- Deceased people whose estates are being administered under bankruptcy-related laws\n\nOrdinary members of the public are indirectly affected because these charges reduce the pool of money available to repay creditors (people owed money by the bankrupt).\n\n### The two charges explained:\n\n**1. Interest Charge (Part 2)**\nIf a trustee earns interest on money held in a bankrupt's account, that interest must be handed over to the Commonwealth as a charge. This applies to interest earned under specific provisions of the *Bankruptcy Act 1966*. The charge is due within **35 days after the end of the financial year**. If the charge would be less than $10, nothing is payable.\n\n**2. Realisations Charge (Part 3)**\nWhen a trustee collects money from selling off a bankrupt's assets (called \"realising\" assets), a percentage of those collections must be paid to the Commonwealth. Key details:\n- The percentage is set by the Minister (up to a maximum of **15%**)\n- It is calculated on money received minus allowable deductions (like money spent running the bankrupt's business, or payments to secured creditors — lenders who hold security like a mortgage)\n- **Importantly**, if enough money is collected to fully pay off all the bankrupt's debts, any surplus beyond that is **exempt** from the charge — protecting creditors who are fully repaid\n- Again, charges under $10 are waived\n- Due within **35 days after the end of the financial year**\n\n### Why does this matter?\nThese charges are essentially a levy the government collects for administering the bankruptcy system. The money funds the infrastructure (including the Official Trustee — the government-appointed trustee) that oversees insolvency in Australia. The charges reduce what's left for creditors but are capped and structured to avoid penalising estates that fully repay their debts."},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"The supplied text establishes a standalone charging regime and does not itself amend or vary an earlier instrument within the text provided. It defines who is liable, what receipts are charged, calculation rules, payment timing, and administrative powers for rate and regulatory settings (see ss4–9). No material within the supplied Act indicates a change from an earlier stated scope."},"complexity_factors":["Cross‑references to the Bankruptcy Act 1966 for defined terms and the scope of covered roles (s4(2); s6(1))","Ministerial power to set the percentage rate by legislative instrument, subject to a 15% cap (s7(1)–(3))","Calculation mechanics requiring aggregation of receipts, exclusions, permitted deductions, and prevention of double counting (s8(1)–(4))","Interpretative points about when amounts are \"treated as received\" (s7A) and the special exclusion for estate surplus (s6A)","Regulatory discretion over the de minimis threshold and other matters via regulations (s5(1A); s6(1A); s9)","Timing requirement for payment within 35 days after the end of the charge period creates operational deadlines across many estates (s5(4); s6(3))"],"plain_english_summary":"What this law does (mechanics)\n\n- It creates two kinds of mandatory Commonwealth charges (tax-like levies) on money handled in insolvency contexts.\n  - An interest charge: certain amounts of personal interest payable under specified subsections of the Bankruptcy Act 1966 are treated as a charge to the Commonwealth (see s5).  The person entitled to that interest must pay the charge (s5(3)).\n  - A realisations charge: trustees, administrators or persons acting in similar insolvency capacities must pay a charge on amounts they receive in that capacity during a financial year (the \"charge period\") (s6(1); s4).\n- The charge period is a financial year (s4).\n- Small amounts need not be charged: no charge is payable for a charge period in respect of a particular matter if the charge would be less than $10, or a higher amount set by regulation (s5(1A); s6(1A)).\n- Payment timing: each charge is due within 35 days after the end of the charge period in which the relevant interest or receipts were paid or received (s5(4); s6(3)).\n- Who pays and who is caught: the person entitled to the interest pays the interest charge (s5(3)). The realisations charge applies to a defined list of roles — for example, trustees of bankrupt estates, trustees of compositions, administrators of debt agreements, trustees of deceased estates under Part XI, and controlling trustees under Division 2 of Part X (s6(1)). The charge is payable by the person who received the amounts (s6(2)).\n- How the realisations charge is calculated:\n  - The amount on which the charge is imposed equals the amount realised during the charge period less permitted deductions (s8(1)).\n  - \"Amount realised\" is the total amount received in the listed capacity during the charge period, excluding certain statutory payments and indemnity receipts (s8(2)).\n  - \"Permitted deductions\" are amounts paid in carrying on the business of the bankrupt/deceased/debtor and payments to secured creditors (s8(3)).\n  - Once an amount is counted as received, it cannot be counted again for another application of that rule (s8(4)).\n  - Amounts applied or dealt with on behalf of, or in accordance with directions of, the person are treated as received by that person for these rules (s7A).\n- Special exclusion for estate surplus: if a received amount allows the person to pay off all of a bankrupt’s debts, then any excess over the amount needed to pay those debts, and any later amounts received for the estate, are excluded from the charge calculation (s6A).\n- The Minister sets the charge rate (a percentage) by legislative instrument, but the percentage must not exceed 15% (s7(1)–(3)).\n- The Governor‑General may make regulations to prescribe matters required or convenient to give effect to the Act (s9). The Act binds the Commonwealth Crown but not State, ACT or NT Crowns (s3).\n\nOfficial purpose statements in the text\n\n- The Act itself does not include an explanatory statement of purpose. Its operative provisions impose and describe the mechanics of the charges set out above (the statutory text is the source for the measures summarized). The Minister’s power to set the percentage and the Governor‑General’s power to make regulations are the instruments by which the Executive sets rates and administrative detail (s7; s9).\n\nPractical effects, incentives and trade‑offs (source‑grounded)\n\n- Who pays and who decides:\n  - Payment obligations fall on persons who receive interest or realise assets in insolvency roles (s5(3); s6(2)).\n  - The Minister decides the rate (up to 15%) by legislative instrument (s7(1)–(3)). The Governor‑General may make regulations, including raising the de minimis exemption above $10 (s5(1A); s6(1A); s9).\n\n- Direct financial transfer and opportunity cost:\n  - The charge diverts a percentage of realised receipts and certain interest amounts to the Commonwealth rather than leaving the full amount available for creditors, estate administration or redistribution within the estate (see s5; s6; s8). The Act allocates part of estate receipts to the Commonwealth by statutory charge.\n\n- Administrative and compliance burden:\n  - Persons subject to the charge must identify charge periods (financial years), calculate amounts realised, apply permitted deductions, respect the non‑duplication rule (s8(4)), and make payment within 35 days of the charge period end (s8; s5(4); s6(3)).\n  - The small‑amount exemption reduces the need to collect immaterial sums, but the exemption level can be changed by regulation (s5(1A); s6(1A); s9).\n  - Interpretation tasks will arise (for example, when an amount is treated as \"received\" because it is applied on the person’s behalf (s7A), or whether an amount allows payment of all of a bankrupt’s debts for s6A purposes).\n\n- Discretion and changeability:\n  - The Minister’s power to set the percentage by legislative instrument concentrates rate‑setting in the Executive (s7(2)). The cap is 15% (s7(3)).\n  - The Governor‑General’s regulation‑making power allows detail (including the de minimis level) to be prescribed later (s9; s5(1A); s6(1A)). These instruments can change administrative parameters without amendment of the Act.\n\n- Effects on private actors in insolvency markets:\n  - The measure applies to insolvency officeholders and others receiving amounts under the referenced Bankruptcy Act provisions (s6(1)). That population bears the charge, which reduces net receipts available for distribution or retention in estates (s6(2); s8).\n  - The Act sets a clear list of permitted deductions (business costs and payments to secured creditors) which shapes what can be offset against the charge (s8(3)).\n\n- Risk and implementation notes:\n  - Calculations require accurate identification of receipts, permitted deductions, and the timing of receipts across financial years (s8). The exclusion in s6A requires a determination whether the received amount is sufficient to pay off all a bankrupt’s debts (s6A(1)(b)), which will involve reference to the Bankruptcy Act definition incorporated by s6A(2).\n  - Cross‑references to the Bankruptcy Act 1966 (s4(2) and multiple references in s5 and s6) mean the operation of these charges depends on definitions and machinery in that Act.\n\nBottom line (mechanical summary of impacts)\n\n- The Act creates a Commonwealth charge on specified interest receipts and on amounts realised by trustees and similar insolvency officeholders during a financial year. Rate decisions and operational thresholds are set by the Minister and by regulation. The statutory rules specify calculation mechanics, permitted deductions, timing for payment and limited exemptions (small amounts and estate surplus) that affect how much and when affected persons must pay to the Commonwealth (see ss4–9)."}},"importantCases":[],"_links":{"self":"/api/acts/bankruptcy-estate-charges-act-1997","history":"/api/acts/bankruptcy-estate-charges-act-1997/history","analysis":"/api/acts/bankruptcy-estate-charges-act-1997/analysis","conflicts":"/api/acts/bankruptcy-estate-charges-act-1997/conflicts","importantCases":"/api/acts/bankruptcy-estate-charges-act-1997/important-cases","documents":"/api/acts/bankruptcy-estate-charges-act-1997/documents"}}