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Government to Review Bankruptcy Threshold

Posted by SAFCA on 19 November 2019
Excellent news today the government announced a review of the forced bankruptcy threshold. The media links are below (ABC online and News Breakfast, SMH online)

The announcement was in response to a letter (and lobbying) from the ABA, FCA, Consumer Action and Financial Rights after the release of Who is Making Australians Bankrupt.

The threshold is currently $5K. In Who is Making Australians Bankrupt, we say it should be $50K. Industry seems to have already moved to $20K, so we will end up with an improvement.

Further can be accessed from the News Links below:

Sydney Morning Herald

ABC News

 

Author: SAFCA
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