Collicott was convicted of fraud over revenue stamps and was transported to New South Wales on the Earl Spencer in October 1813.

In 1859 he was elected a member of the Senate of Sydney University, to which be bequeathed £1000 for a scholarship for proficiency in mathematics in the second year.

He married Jane Bowden on 24 July 1823, and they had fourteen children but only five sons and five daughters survived past infancy.

Upon his death, The Sydney Morning Herald referred to him as "one of the foremost public citizens, who overcame the temptation of successful men to live a life of easy self-indulgence".

The name survives in the popular Toxteth Hotel in Glebe Point Road, the type of establishment so loathed by the pious Wesleyan.