There are two main classes of assets that are protected in bankruptcy to an indexed threshold amount.
Tools of trade | $4,350 |
Vehicles (cars/motorbikes) used mainly for transport | $9,400 |
The amounts in the table above are updated each financial year.
There's also an amount of credit you can get from lenders without being required to disclose the bankruptcy or debt agreement (Part IX or Part 9). This amount is updated quarterly and is currently $7,032.00.
However, verify current amounts via the Australian Financial Security Authority (AFSA)'s webpage here.
Last updated: September 2024