Personal insolvency numbers were flat or down in the big states, New South Wales and Victoria, in the December quarter, but it was a different story in the small states and territories.

According to the latest Australian Financial Security Authority figures, total personal insolvency numbers fell by 8.1 per cent in the December quarter, compared with the September quarter, and rose by just 0.1 per cent compared with the previous corresponding period.

There were 2408 personal insolvencies during the quarter, made up of 1529 bankruptcies, 841 debt agreements, 36 personal insolvency agreements and two insolvent deceased estates.

However, there were rises in all states and territories except New South Wales. Insolvency numbers were down 7.4 per cent in NSW, compared with December 2020, while they rose 34.5 per cent in Tasmania (to 78), 19 per cent (to 25) in the Australian Capital Territory, 20 per cent (to 18) in the Northern Territory, 9.4 per cent in Western Australia, 9 per cent in South Australia, 1.1 per cent in Queensland and 0.5 per cent in Victoria.

Over a third of bankruptcies (37.3 per cent) were business related – up from 35.5 per cent in the September quarter.

Most bankruptcies (89 per cent) were by debtor’s petition (voluntary). The rest were by sequestration order.