Visit our dedicated small business restructuring site for small business owners facing financial distress.
Small Business Restructuring
Restructure debts and secure the future for your clients businesses.
Small Business Restructuring (SBR) is an initiative by the ATO aimed at helping businesses reduce their debts and create a recovery plan within a streamlined 35-business-day timeframe.
Through SBR, businesses can present a debt restructuring proposal to creditors while retaining full control over their operations.
Why choose a Small Business Restructure?
Fast and Efficient Process : A streamlined process that is typically completed in 35-45 business days.
Unlock Tax Debt Discounts : Avoid DPN lockdowns which would otherwise freeze asset and halt business progress.
Avoid DPN Lockdowns: Secure significant discounts on core tax debts, especially with the ATO.
At TTJ Advisory, we understand the pressures directors face, particularly when grappling with tax debts and insolvency.
The Benefits of Restructuring
Protect from Personal Liability
By entering a small business restructure, directors can manage their company's debts in a structured manner, potentially shielding themselves from personal liability.
Continued Business Operations
Unlike liquidation, which often means the end of the business, small business restructuring allows the company to continue trading while addressing its financial issues.
Negotiated Debt Settlement
We can help reduce the debt obligations by up to 80%.
Avoid Bankruptcy
SBR provides a pathway to resolve financial difficulties without resorting to bankruptcy.
Browse TTJ's
Tools & Resources
Our Myths & Facts bankruptcy guide serves as your compass, helping to steer clear of common misunderstandings and chart a course towards financial recovery.
Bankruptcy
Myth-buster
Is your business facing financial challenges? Discover how Small Business Restructuring (SBR) can help you reduce debt by up to 80% and keep your business operational.
SBR eBook for Small Business Owners
Small Business Restructuring can help your clients slash debts by up to 80%, unlock tax relief and future-proof their businesses. This eBook offers a step-by-step guide to SBR.
SBR eBook for Accountants
Director Penalty Notices (DPNs) can have serious financial consequences, holding directors personally liable for unpaid company tax debts. This eBook explains how to respond, and strategies to protect your assets.
DPN eBook for Directors
Insolvency is tough, but it's not the end. With the right guidance and a proactive approach, you can navigate through this and emerge stronger.
Insolvency
Fact-checker
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Frequently Asked Questions
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The Small Business Restructuring Process
01
Appointment of TTJ Advisory
The process begins when company directors decide to appoint us as the SBR Practitioner.
02
Eligibility Assessment & Plan development
We will do a thorough assessment of the company's eligibility and create a plan to repay creditors either partially or in full, offering a better plan than liquidation.
Plan proposal timeline
Once the business turnaround and debt restructuring begins, the company has 20 business days to develop and submit the plan to creditors. During this period, most security enforcement actions against the company are paused.
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04
Creditor Voting
Creditors have 15 business days to review and vote on the Plan. Approval requires more than 50% of the unrelated creditors (by value) to support it.
05
Business as Usual
If approved, the company will continue to trade while the SBR Practitioner oversees the plan. The plan must be completed within 3 years.
