Statement of financial position
Why you have received this form
You have received or been directed to complete a statement of financial position form because you’re a debtor in a court or tribunal proceeding and the court or tribunal has entered a judgment debt against you. As a result, you owe money to a creditor.
Purpose of the statement
If a creditor has been awarded a monetary order in a Queensland court or tribunal, or has registered an interstate monetary order in a Queensland court, they can enforce that monetary order against you.
The creditor can seek information to enforce the monetary order by requiring you to complete a statement of financial position.
If you fail to do this to the creditor’s satisfaction, the creditor can summons you to an enforcement hearing.
Once you understand the information below, complete the Statement of Financial Position.
How this form can be given to you
The creditor must issue you with a written notice, together with a blank statement of financial position form, at any time after a monetary order is made.
You are responsible for making sure you fully and accurately complete this form to the best of your ability and return it within the required time frame.
Which form you should complete
You must provide your statement of financial position on the approved form.
If you are:
- an individual person, you must complete the Statement of Financial Position
- a partnership, you must complete the Statement of Financial Position. The form must be completed by a person who is a partner or has control or management of the partnership business in Queensland
- a corporation, you must complete a Statement of Financial Position - Company . The form must be completed by an officer of the corporation.
When and where to send the form
Return this form within 14 days from the date you received it.
You must return the completed form directly to an address requested by either the creditor or the creditor's legal representatives.
Failure to complete the form
If the creditor believes you have failed to complete the form in a satisfactory way, they can summons you to appear at an enforcement hearing.
This can happen if you:
- Don’t complete the form accurately or to the best of your ability
- Don’t provide all the required information
- fail to return the form on time.
What happens next
The creditor can assess the information provided by you for accuracy and completeness.
If the creditor believes you have completed the form accurately and to the best of your ability, and is satisfied that the information is complete, they can follow one of the enforcement options available to them (under Chapter 19 of the Uniform Civil Procedure Rules 1999).
If the creditor believes you haven’t completed the form accurately or needs further information from you, they can summons you to appear at an enforcement hearing for questioning under oath. You will need to produce any documents or things stated in the summons.
If you are summonsed to attend an enforcement hearing, you may be required to complete and return another statement of financial position at least four business days before attending the enforcement hearing.
At the enforcement hearing, you can be questioned about your assets, liabilities, income, expenses and the contents of your statement of financial position.
If you failed to return the statement of financial position or properly complete it as originally directed, you may be asked to explain why. Your response will be considered by the court in deciding any costs order made against you.
You may also be required to pay the costs of the enforcement hearing, unless the court orders otherwise.
Penalties for not complying
A warrant may be issued for your arrest and you may be brought before the court to account for your actions if you fail to or refuse to:
- complete and return the statement of financial position without a lawful excuse
- attend an enforcement hearing when you are summonsed
- answer a question you are directed to answer in an enforcement hearing
- answer a question to the court's satisfaction.
Then, the court may find you to be in contempt of court.
A court can punish you for contempt of court by making an order under the Penalties and Sentences Act 1992 (Qld), including imposing a term of imprisonment. The court can also order you to pay any costs.
Penalties for providing false or misleading information
If you provide false or misleading information in the statement of financial position or during an enforcement hearing you may have committed perjury. Perjury is a criminal offence with a penalty of up to 14 years imprisonment.