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Experts featured on
SBR — SMALL BUSINESS RESTRUCTURING
Slash your tax debt
Freedom
- Reduce business debt owed to creditors
- Simpler & faster than traditional options
- Negotiate favourable debt repayment terms
- Company is protected from legal action
- Avoid liquidation
- Improve business cash flow
- Help your employees retain their jobs
- Retain control of ordinary business operations
In most cases we secured our clients a debt reduction of up to 80%
Helping
Real results that make a real positive difference for local small businesses across construction, building, retail, hospitality, entertainment, publishing and many more industries Australia-wide.
Our clients on average achieved a debt saving circa 80% with SBR
SBR proposals: Success rate of approximately 95%
In the dollar return to creditors on average*
Amount of debt slashed for small businesses in the past 12 months
What is SBR?
SBR was introduced by the Federal Government in 2021, designed to help small businesses experiencing financial hardship. It helps to:
- save viable businesses
- save employment
Qualifying Criteria
SBR key qualifying criteria listed below, Chris also explains the official and unofficial elements in the short video.
- Total debts less than $1 Million (not including Employee Entitlements)
- Director of the company has not used Small Business Restructuring in the past 7 years
- Outstanding Employee Entitlements are paid in full
- Make sure all outstanding Taxation Returns are lodged
Try our free Eligibility Tool for a preliminary check of your eligibility.
Financial Distress Signals
Don’t ignore these critical warning signs of distress!
- Poor or no cash flow
- Can’t pay bills
- Can’t pay staff wages & super
- Loss of clients
- Disputes between business owners & directors
- Inability to borrow funds
Professional Advice
Amateur advice will cost you thousands. Professional advice will save you thousands.
- Backed by professional indemnity insurance
- Professional advisors approach problems with objectivity
- Highly experienced and have likely dealt with hundreds of cases facing the same issues and know what the best solutions are
- We subscribe to the ARITA Code of Professional Practice and our people belong to and uphold the codes of practice of relevant professional organisations including the CAANZ, CPA, and ARITA.
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The Australian Tax Office has shown positive signs towards SBR
The Australian Tax Office (ATO) has shown positive signs towards SBR plans because it generally provides better outcomes for creditors when compared to voluntary administration or liquidation.
We are members of trusted industry bodies
TRUSTED BY INDUSTRY PROFESSIONALS
Reputable accountants, lawyers, advisors trust us to help their clients
Many business owners are referred to us by their accountants and advisors because they know the expertise and value we provide for their clients
Accountants trust us to help their small business clients
Lawyers and professional advisors
Hundreds of small business owners choose us for our empathy and results
WHY CHOOSE US
Why choose Jirsch Sutherland for small business restructuring?
Managed over 10% of all SBR appointments across Australia in the first 2 years of the Federal Government's introduction of SBR
Since the Federal Government introduction of the SBR regime, we have managed over 10% of all SBR appointments across Australia in the first 2 years.
This is a true testament to our decades of experience and the level of trust that small businesses and their advisers have in partnering with our restructuring professionals at Jirsch Sutherland to help them achieve excellent outcomes.
Top 10 rank by no. of appointments
SBR plan approval rate
In the dollar on debts a company saves on average*
In the dollar return to creditors on average*
We help simplify processes and lower costs to ensure clear and equitable financial resolutions in the fastest time possible
Andrew Spring, Partner
For over 40 years we've helped thousands tackle their debts
Trusted for over 40 years
With local offices Australia-wide, we are dedicated and committed to supporting local business communities and work closely with small and mid-size accounting, finance and legal firms – and most importantly their clients – to provide them with our extensive insolvency expertise, resources and experience.
SENIOR EXPERTS
Your case managed by senior experts
Our senior experts possess immense industry knowledge and experience to get you the best results possible
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Bradd MorelliWhile Bradd’s work spans most industry sectors and business types, he has significant experience within the film and entertainment industries, including working with high-profile personalities. Bradd Morelli |
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Andrew SpringAndrew has a wealth of experience in all facets of domestic and international business restructuring and insolvency. Andrew has over 19 years experience in corporate recovery and insolvency gained through working in Australia and the UK, where he assisted distressed businesses. Andrew Spring |
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Chris BaskervilleChris believes there are solutions to every problem and he focuses on finding commercial outcomes in his business dealings. He also prides himself on being a connector of like-minded people in business. Chris Baskerville |
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Glenn CrispGlenn has extensive investigative experience regarding the conduct of company directors and management. Glenn Crisp |
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Jimmy TrpcevskiJimmy has strong communication and interpersonal skills including managing existing relationships and developing and expanding new relationships. He has managed and been appointed to a number of large and complex external administrations across a diverse range of industries and jurisdictions. Jimmy Trpcevski |
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Malcolm HowellMalcolm’s experience as a corporate regulator and investigator gives him an edge when conducting investigations and preparing evidence briefs relating to breaches of the law. Malcolm Howell |
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Trent DevineTrent has more than 20 years insolvency industry experience and excels at forming strong relationships with clients to ensure the best outcomes that fit with their overall aims. Always transparent, Trent believes in honestly appraising each situation based on its merits and advising accordingly. Trent Devine |
Simple, streamlined process
- Establish eligibility and appoint a SBR practitioner: You and your directors must first determine that your company is insolvent or likely to become so. Then you need to appoint a Small Business Restructuring Practitioner (SBRP).
- Restructuring plan is produced: Your SBR practitioner, in consultation with you, has 20 business days to draft a restructuring plan that your creditors will vote on (This can be extended by up to 10 business days). Once presented, your creditors then have 15 business days to accept or reject it.
- Plan implementation: If the majority of creditors – more than 50% in value – vote yes to the plan, then your restructuring plan is implemented, and your business is free of the remaining debt balance.
- SBR termination process: Usually, acceptance of the plan involves a one-off payment by your company into a fund which your SBRP then distributes to the creditors. Your admissible debts are then released. The period of the plan cannot exceed three years.
Seeking help sooner means you’ll have more options and increase your chances for a better outcome.
Start now. Check your eligibility in seconds.
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What our clients say about us
Our numbers only tell half the story, below are comments from recent clients we’ve helped
Retail Fashion Business
Facing significant challenges from the COVID-19 pandemic, my fashion retail business was in a precarious position. High debts and disrupted supply chains made survival seem uncertain. Thanks to Jirsch...
Retail Fashion Business
Facing significant challenges from the COVID-19 pandemic, my fashion retail business was in a precarious position. High debts and disrupted supply chains made survival seem uncertain. Thanks to Jirsch Sutherland, recommended by Kelly Partners, we found a way forward. Their understanding, professionalism, and effective negotiation led to a manageable Small Business Restructure with the ATO, enabling us to address our financial difficulties and focus on recovery. I appreciate Jirsch Sutherland’s practical and empathetic approach and recommend their services for businesses facing similar financial issues.
Robert
Manufacturing Business, NSW
The SBR process was better than I expected. The Company retained full control of the operations throughout the process and the outcome was exceptional, resulting in a significant reduction of our lega...
Manufacturing Business, NSW
The SBR process was better than I expected. The Company retained full control of the operations throughout the process and the outcome was exceptional, resulting in a significant reduction of our legacy debts. With Andrew’s help, we were able to provide a clear message to our creditors regarding our business’s difficulties and how they have been overcome. The SBR saved my business.
Tom
Group of Cafe Businesses
The SBR process was very useful with getting my financial world back on track 👏. The process was well explained and was an efficient and moral way of trying to control the debts I had accumulated. I w...
Group of Cafe Businesses
The SBR process was very useful with getting my financial world back on track 👏. The process was well explained and was an efficient and moral way of trying to control the debts I had accumulated. I would recommend it to anyone who has been in business over the last few years and gained debts due to the external factors that have affected us all. The Team at Jirsch Sutherland were very professional and great to deal with throughout the process.
Rachael
SBR FAQS
Your questions answered
It is an agreement between your company and your creditors. There is no set plan, which means they are able to be very flexible. Usually, these plans involve a one-off contribution from someone such as a director, which is paid to creditors by the restructuring practitioner.
Your SBR practitioner, in consultation with you, has 20 business days to draft a restructuring plan that your creditors will vote on (This can be extended by up to 10 business days). Once presented, your creditors then have 15 business days to accept or reject it. While they are deciding, your business can continue to trade.
All unsecured debts that were incurred prior to your company entering restructuring are included, with the exception of employee entitlements that are not yet payable, such as leave and redundancy payments. If your company incurs debts after it enters restructuring, these debts do not form part of the plan and need to be paid off outside the plan.
Yes. The business must pay any employee entitlements which are due and payable before a
plan can be proposed to creditors.
Eligibility must satisfy these conditions:
- Total debts not exceeding $1 million
- Be insolvent or likely to become insolvent
- Employee entitlements are up to date
- Tax Office lodgements are up to date. Note you can still have money outstanding
- The company must not have previously used the small business restructuring process or the simplified liquidation process within the past 7 years
Use our Eligibility Checker
Alternative solutions might be possible such as:
- Safe Harbour
- Voluntary Administration
- Creditors Voluntary Liquidation
Best to contact one of our experts to discuss your options.
If your plan is rejected, then the restructuring process is over. While you remain in control of your company, your creditors are able to enforce their rights. Your protection from liability for insolvent trading also ends. Your options now include voluntary administration or liquidation.
The fee of the Restructuring Professional for developing the restructuring plan and liaising with Creditors about the SBRP is agreed and fixed up-front.
First you appoint a small business restructuring practitioner who needs to be a registered liquidator. They will act on your behalf during this process and ensure you are compliant with the following:
- Employee entitlements that are due have been paid, excluding leave and other entitlements not currently due to be paid.
- Tax lodgements are up to date.
4.7/5 on TrustPilot