Information for trustees appointed under the Bankruptcy Act 1966

The following information sets out administrative obligations for trustees Appointments under the Bankruptcy Act 1966.

Separate ABNs for trustees

You will not be required to apply for an Australian Business Number (ABN) for every estate (bankrupt estates and agreements under Part IX and Part X) which you administer. In the majority of cases, when an individual enters into an administration under the Bankruptcy Act 1966, they cease to be carrying on an enterprise in Australia. Therefore, they cease to satisfy the conditions necessary to have an ABN. In these cases, the trustee will not be required to apply for a separate ABN.

In a minority of cases, an individual may become bankrupt or enter into a Part X agreement and still carry on in the same enterprise. Examples of this include taxi drivers and solicitors. If the individual carries on in the same enterprise, the trustee will need to apply for a separate ABN.

For trustee appointments occurring on or after 1 April 2002, the trustee is no longer able to use the ABN of the insolvent individual when administering the estate. Where an ABN is required, the trustee needs to apply for a separate ABN in the normal manner in respect of each appointment as trustee under the Bankruptcy Act 1966. The new ABN will be used for all matters arising under the administration.

More information Who is entitled to an ABN ABN essentials