What processes are available for small business
There are insolvency processes designed to help more small businesses restructure.
Where restructuring is not possible, businesses will be able to wind up faster, enabling greater returns for creditors and employees.
Two processes are available for eligible companies:
- simplified liquidation processExternal Link
- small business restructuring (SBR) planExternal Link
- our approach to small business restructuring.
Eligibility
These processes are available to eligible incorporated businesses with liabilities of less than $1 million.
You must have all your lodgment up to date to be eligible.
You can view your lodgment information in Online services for business.
What practitioners need to do
You can notify us of the proposed plan with supporting documents by either:
- secure mail message in Online services for business
- fax or mail using the Debt insolvency cover sheet (PDF, 117KB)This link will download a file (NAT 14588).
Subject selections in Online services for businesses are available for both:
- simplified liquidation
- SBR.
For more information, you can contact us about insolvency.