"In June 2012 net foreign debt, inclusive of the public and private sectors, increased to $756 billion or 51.5 per cent of gross domestic product (GDP). The total private sector contributes to 71 per cent of this debt, while the total public sector accounts for 29 per cent–the government contributes 83 per cent to the public sector net debt.

Over the last 10 years net foreign debt has risen steadily from 41 per cent of GDP to a peak of 56.0 per cent in December 2008. Since then it has decreased 4.5 percentage points.

Gross foreign debt is now $1.4 trillion (or 96.2 per cent of GDP), of which the private sector owes $1.1 trillion or 78 per cent. Commensurate with this, the public sector owes 22 per cent or $0.3 trillion. "

http://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/MSB/65

WMtevor then Public debt of $300 billion which does not include unfunded super liabilities is over $27,000 per working person plus interest.Over 10 yrs with interest it would be about $600 billion meaning they would have to find additional taxes of over $5000 pa for every working person.

Thanks for the info.

I would presume that the major part of the private debt would be
housing loans, car loans & business loans.
It would be interesting to break commercial debt out of that.

To obtain the net foreign debt are we subtracting overseas investment purchases of Aus Bonds ?
If so that is really a debt not an asset.

Thanks for the info Trevor.