Frequently Asked Questions

Can I gift monies from my wages while bankrupt?

Yes, the Bankruptcy Act provides protection for your wages up to very reasonable amounts, depending on how many dependants you have. You can gift monies and also save monies in your ordinary bank account from your protected wages while bankrupt.

For details on how your wages are protected during bankruptcy we recommend our article, Wages, Super and Spending which can be accessed here.

If you would like to have a chat about this please call me on 1300 764 197 or email hello@understandingbankruptcy.com.au.

Ask Us A Question

Give us a call on 1300 794 492
Alternatively, you can leave us a message and we will get back to you as soon as possible