You can commit an offence under the Bankruptcy Act, if you do one of the following:
- You dispose of property before bankruptcy with the intent to defeat your creditors;
- You fail to disclose assets;
- You leave Australia without your Bankruptcy Trustee’s permission;
- You obtain credit when you know you cannot repay it;
- You incur credit during bankruptcy over $4,669 without disclosing that you are bankrupt;
- You operate a business under an assumed name, without advising your Bankruptcy Trustee; or
- You leave Australia without the trustee’s permission.
The above list of offences under the Bankruptcy Act is not an exhaustive list. To view the full list of offences under the Bankruptcy Act (view part Part XIV of the Bankruptcy Act).
Your Bankruptcy Trustee may refer an offence you commit under the Bankruptcy Act to the Bankruptcy Fraud & Investigation division of ITSA which may lead to your prosecution.