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AFSA's Insolvency Eligibility Tool

Considering bankruptcy but unsure if you can set sail on this course? AFSA’s eligibility check tool is your compass, guiding you through the criteria necessary for declaring bankruptcy. It evaluates whether you’re adrift with debts you cannot pay when due and checks if you have a solid mooring in Australia—either through residence or business connections. This online navigator is designed to chart your possible paths in financial seas, helping you understand your options with ease and precision.

Further Reading

Title
Short Summary
ATO's Directors Penalty Notice Information
AFSA's Dealing with Debt
A guiding service offering free financial counselling for small businesses in hardship, helping navigate debt and cash flow troubles.
Deciphering A Credit Report
It also has a downloadable form ADVISE OF TAX RETURN if you choose to use an OFFICIAL TRUSTEE as your trustee.
ASIC Closing A Small Business
Tailored mental health coaching for small business owners, with free, confidential sessions designed to manage stress through Cognitive Behavioural Therapy.
NSW Small Business Commission Mediation Service
Support for customers in financial difficulty, offering access to specialised hardship teams within banks.
ACCC's Debt Collection Guideline for Collectors & Creditors
If you're inclined to explore the intricate details of how bankruptcy intersects with superannuation contributions, then feel free to read the Bankruptcy Legislation Amendment (Superannuation Contributions) Act 2007 SCHEDULE 1-AMENDMENTS RELATING TO SUPERANNUATION CONTRIBUTIONS
Beyond Blue - New Access for Small Business Owners
Beyond Blue offers 24/7 confidential counselling for those facing mental health challenges.
Grants and Programs Finder (COVID-10 Support)
Comprehensive guidance for winding up companies and trusts, detailing voluntary and ASIC-initiated deregistration procedures.
AFSA Bankruptcy Search: InfoTrack Tool
Your Sherpa through the daunting terrain of bankruptcy application, turning a mountain of paperwork into a series of manageable steps.
NSW Government's Business Connect Program
A summary of debt settlement options for sole traders and partnerships before considering bankruptcy.
Small Business Debt Helpline
Lifeline provides round-the-clock, empathetic crisis support through various communication channels.
The Treasury Small Business Guide
Business Connect provides advice for financially challenged businesses, helping identify options and strategies for recovery.
AFSA's Guide on Personal Bankruptcy and Company Liquidation
This guide created jointly by AFSA, in collaboration with ASIC and ARITA, offers essential insights into how personal bankruptcy and company liquidation interact.
Is Your Business Experiencing Financial Difficulty? - AFSA
AFSA provides strategies and insights for small businesses grappling with debt management and the implications of bankruptcy.
ASIC: Closing A Small Business
A navigational aid for small businesses seeking COVID-19 financial support, including JobKeeper and tax relief measures.
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