In the March quarter 2022, personal insolvencies fell 13.0% compared to the March quarter 2021, according to the latest personal insolvency statistics released by Australian Financial Security Authority (AFSA).

There were 2,215 personal insolvencies in the March quarter 2022, a fall of 330 (-13.0%) compared to the March quarter 2021. There were falls in all states and territories except Tasmania (up 18.5%). The number of personal insolvencies fell by 193 (-8.0%) compared to the December quarter 2021, where there were 2,408 personal insolvencies nationally.

Breakdown of March quarter 2022 personal insolvencies:

    • 1,450 bankruptcies
    • 730 debt agreements
    • 30 personal insolvency agreements
    • 5 insolvent deceased estates
    • 91.1% of bankruptcies were by debtor’s petition (voluntary). The remaining bankruptcies were by sequestration order (involuntary).

By type of personal insolvency, compared to the March quarter 2021:

  • bankruptcies fell by 262
  • debtor’s petitions, a subset of bankruptcies, fell by 348
  • sequestration orders, a subset of bankruptcies, rose by 86
  • debt agreements fell by 86
  • personal insolvency agreements rose by 13.

In the March quarter 2022, 29.9% of bankruptcies were business related, this is a fall from 30.8% in the March quarter 2021.

State and territory levels

State Number of

Bankruptcies

March Quarter 2022
Tasmania 64
Victoria 364
NSW 651
Queensland 702
South Australia 150
Northern Territory 18
Western Australia 210
ACT 26
Other 30

State and territory figures will not necessarily sum to the national total. If multiple debtors in the same state or territory enter into a joint administration, they are included once in these figures.

 Other includes records where no address is stated, records coded to other Territories and records where the stated address is not in the Australian Statistical Geography Standard (ASGS)

 Sources:

Australian Financial Security Authority (AFSA).

www.afsa.gov.au/about-us/statistics/quarterlypersonal-insolvency-statistics

For further information on these statistics, please refer to www.afsa.gov.au/about-us/statistics