From www.accountantsdaily.com.au: The Australian Financial Security Authority reported a 7.1% increase in personal insolvencies for the December 2024 quarter, with 2,794 new cases compared to 2,608 in December 2023.

Of these, 1,646 were bankruptcies, and 837 were business-related insolvencies.

The rise was noted mainly in New South Wales and Victoria, prompting AFSA’s chief executive to urge individuals facing financial difficulties to seek help promptly.