Billionaire Clive Palmer referred to debt collection agency

Clive Palmer has been referred to a debt collection agency over money still owed from his short time in parliament.

Clive Palmer has an outstanding debt to the Commonwealth of $6,713.15.Picture: News Regional Media

The parliamentary expenses watchdog has referred controversial billionaire and former MP Clive Palmer to a debt collection agency over money still owed from his short time in parliament

Independent Parliamentary Expenses Authority officials told Senate estimates on Tuesday that it would pursue Mr Palmer’s outstanding debt to the Commonwealth of $6,713.15.

He accrued the debt by overspending on travel for his staff when he was the MP for Fairfax from 2013 to 2016. The debt has now been outstanding for more than three years. 

The debt remains unpaid despite Mr Palmer’s $83m advertising blitz during the 2019 election, in which his Palmer United Palmer Party did not win a single seat.

IPEA chief executive Annwyn Godwin confirmed that the debt collection process has gone to the level where IPEA has been forced to contact an agency. 

“I’m certainly aware of the debt … we have an escalation process for debtors,” he told senators.

“We have tried to make contact with Mr Palmer on numerous occasions and escalated this on numerous occasions.”

The parliamentary debt is the latest problem for Mr Palmer, who faces up to ten years in jail and millions of dollars in fines after the corporate watchdog charged him with two counts of fraud.

Australian Securities and Investments Commission senior commissioner John Price listed a series of allegations against the business magnate and one-time MP in an appearance at a parliamentary oversight hearing on Friday.

Mr Palmer has been charged with dishonestly gaining a benefit or advantage, pecuniary of otherwise for another person; and dishonestly using his position as a director of a corporation with the intention of directly or indirectly gaining an advantage for someone else.

The former MP has called the ASIC charges “nonsense” and denies any wrongdoing. 

Each of those charges carry penalties of up to $25 million for companies and up to $1.05m for individuals.

The former MP will now have to appear in the Brisbane Magistrates Court next month.