Two orders have been made, adjusting the maximum priority amounts that apply to employee creditors of bankrupt people and companies in liquidation.

In both cases the amount is increased from $22,160 to $23,960 to reflect the overall percentage increase in average weekly earnings in the private sector over the 3-year period starting on 1 July 2015 and ending on 30 June 2018.

The orders come into force on 30 September 2018.

The Insolvency (Maximum Priority Amount) Order 2018 sets the adjusted maximum priority amount that applies to certain preferential claims by employee creditors of a bankrupt person at $23,960.

The Companies (Maximum Priority Amount) Order 2018 sets the adjusted maximum priority amount that applies to certain preferential claims by employee creditors of a company in liquidation at $23,960.