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Important COVID-19 information
Coronavirus (COVID-19) and the Attorney-General’s Department: Find out how our services are being delivered and how you can access them. For the latest COVID-19 news, updates and advice from the Australian Government, visit Australia.gov.au

Bankruptcy

The Attorney-General has responsibility for bankruptcy policy, the Bankruptcy Act 1966 and the Australian Financial Security Authority.

The Bankruptcy Act and associated legislation regulates Australia's personal insolvency system and provides a framework to allow people in severe financial stress to discharge unmanageable debts while providing for the realisation of a debtor's available assets for distribution to affected creditors.

Economic response to the Coronavirus (COVID-19)

On 24 March 2020, the Australian Government made temporary changes to bankruptcy laws as part of its economic response to the Coronavirus (COVID-19) pandemic. The changes will help Australians facing financial distress by reducing the threat of people being forced into bankruptcy during these difficult times.

The temporary changes increase the:

These changes are in operation until 31 December 2020 to ensure they respond appropriately and proportionately to the Coronavirus (COVID-19) pandemic.

Get more information about the Australian Government's economic response to the Coronavirus (COVID-19) pandemic  on The Treasury website.

Australian Financial Security Authority

The administration and regulation of Australia's bankruptcy system is the responsibility of the Australian Financial Security Authority (AFSA).

The AFSA website has further information about bankruptcy, including:

  • what to do about unmanageable personal debts
  • what to do if you are owed money by a person
  • how to be a trustee or administrator
  • complaints processes
  • personal insolvency in the context of Coronavirus.

Legislation