From www.accountantsdaily.com.au: Personal insolvencies fell to 828 in December 2024, down from 955 in November and 1,009 in October, as reported by the Australian Financial Security Authority.
Business-related personal insolvencies also decreased, with 249 individuals involved in a business entering formal insolvency, despite remaining slightly above the previous year’s figures.
Bankruptcy remains the most common form of personal insolvency, while company insolvencies have increased substantially, particularly in the construction sector.