Bankruptcy on the rise in Australia The number of Australians declaring bankruptcy has grown over the past 12 months, a report shows. THE number of Australians declaring bankruptcy has grown over the past 12 months, with Newcastle West in NSW home to the highest rate of insolvency. QUEENSLAND was the state with the greatest number of bankrupts per capita in 2013/14, with one insolvency per 376 people, figures from the Australian Financial Security Authority show. The Sunshine State's rate compares to one debtor, or insolvent, per 546 adults across the nation. It also points to a worsening situation in Queensland, where there was one bankrupt for every 516 people in the previous financial year. But the postcode with the worst insolvency record over 2013/14 was Newcastle West, where there was one insolvent per 75 adults. Newcastle West shaved Ilfracombe, a small town in central west Queensland, where there was one bankrupt for every 80 adults. Tasmania also had a per capita rate of insolvency higher than the national average. The ACT, Victoria, Western Australia, South Australia and the Northern Territory had rates that were lower than the national average. INSOLVENCY BY POSTCODE IN EACH STATE * NSW - 2302 Newcastle West (1 debtor per 75 adults) * ACT - 2914 Gungahlin (1 debtor per 332 adults) * VIC - 3902 Latrobe/Gippsland (1 debtor per 94 adults) * Qld - 4727 Ilfracombe (1 debtor per 80 adults) * SA - 5115 Adelaide North (1 debtor per 131 adults) * NT - 0870 Outback (1 debtor per 453 adults) * WA - 6536 Outback (1 debtor per 191 adults) * Tas - 7302 Launceston and North East (1 debtor per 265 adults)