Filing For Bankruptcy In Australia Now Costs $120

OK, this is odd. Under a change which was only announced last Friday night but which has already taken effect, it will cost you $120 to file for bankruptcy in Australia. Even stranger: you can charge that to your credit card, even though that card might well end up as one of your unpaid debts as a bankrupt.

Bankruptcy picture from Shutterstock

ABC News reports the changes were introduced late last week, and take effect from 1 April. While there was a consultation period prior to the change being introduced, none of the feedback from consumer groups was responded to, and the change was announced without notice.

The shift could net the government $25 million over four years. Governments already claim a share of any money that it returned to creditors by a bankrupt, which makes it hard to see this as anything other than revenue raising.

New bankruptcy fee to net Federal Government $25 million over four years [ABC News]

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