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Visit our dedicated small business restructuring site for small business owners facing financial distress.

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Northern Beaches

Confidential advice for Northern Beaches individuals, business owners, directors and sole traders under financial pressure. Thyge assesses the position, explains the options that are realistically available, and tells you which ones are still open.

When paying it down is no longer realistic.

Book a confidential consultation

Our clients work directly with Thyge Trafford-Jones, ASIC Registered Liquidator (No. 458321), Registered Small Business Restructuring Practitioner and AFSA Registered Bankruptcy Trustee (No. 1582), Member of ARITA and CPA Australia.

When to seek help

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When should I get in touch with TTJ?

  • BAS, PAYG withholding or super has slipped while wages and suppliers got paid first

  • An ATO payment plan has already been renegotiated once, and it still isn't working

  • Suppliers have shortened terms, or stopped supply

  • Fixed-price work is producing turnover without margin

  • One major client or contract has gone

  • A Director Penalty Notice has arrived, or a personal guarantee is now in play

  • The business is profitable before legacy debt — and can't catch up because of it


None of these mean the business isn't viable. Several of them together mean the question is worth asking properly.

Who this page is for

For Northern Beaches business owners, directors, sole traders and individuals under financial pressure. Accountants, bookkeepers and lawyers have a page of their own.

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PERSONAL

INDIVIDUALS,

BUSInesS OWNERS, DIRECTORS,

SOLE trADERS

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ADVISORS

Lawyers, Accountants, Bookkeepers

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CREDITORS

lenders, investors, financiers

Two restaurant owners discussing finances

PERSONAL

ATO debt is building and the payment plan isn't holding and you have No fixed deadline, but the options narrow once creditors act.
A bankruptcy notice has been served and you have 21 days to comply or apply to set it aside.
A Director Penalty Notice has arrived and you have 21 days to act before it becomes personal.
A statutory demand has been served and you have 21 days to comply or apply to set it aside.

If your business is behind with the ATO, suppliers or superannuation, the position is unlikely to resolve itself. That doesn't mean the business has to close. The first question is whether the underlying business is viable once the legacy debt is separated from current trading.


If your debt has already become personal — a guarantee called in, a Director Penalty Notice, or debts in your own name as a sole trader — that sits under different law and needs to be looked at alongside the company's position. Thyge is registered in both areas, so both can be assessed in the one conversation.

Other Ways We Help Individuals, Business Owners & Directors

A client's ATO debt looks structural, not temporary and your client has Best assessed before a demand or wind-up application lands.
A bankruptcy notice has been served and your client has 21 days to comply or apply to set it aside.
A Director Penalty Notice has arrived and your client has 21 days to act before it becomes personal.
A statutory demand has been served and your client has 21 days to comply or apply to set it aside.

Owed money by a business TTJ Advisory has been appointed to? The FAQs below explain who to contact.

Other Ways We Help LAWYERS, ACCOUNTSANTS, and bookkeepers

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ADVISORS

Who this page is for

For Northern Beaches business owners, directors, sole traders and individuals under financial pressure. Accountants, bookkeepers and lawyers have a page of their own.

Business Owners & Directors

If your business is behind with the ATO, suppliers or superannuation, the position is unlikely to resolve itself. That doesn't mean the business has to close. The first question is whether the underlying business is viable once the legacy debt is separated from current trading.


If your debt has already become personal — a guarantee called in, a Director Penalty Notice, or debts in your own name as a sole trader — that sits under different law and needs to be looked at alongside the company's position. Thyge is registered in both areas, so both can be assessed in the one conversation.

Creditors

If your business is behind with the ATO, suppliers or superannuation, the position is unlikely to resolve itself. That doesn't mean the business has to close. The first question is whether the underlying business is viable once the legacy debt is separated from current trading.


If your debt has already become personal — a guarantee called in, a Director Penalty Notice, or debts in your own name as a sole trader — that sits under different law and needs to be looked at alongside the company's position. Thyge is registered in both areas, so both can be assessed in the one conversation.

 Accountants & Lawyers

Owed money by a business TTJ Advisory has been appointed to? The FAQs below explain who to contact.

Company debt can become personal. Get both sides clear early.

Many matters involve the company's position and the director's personal exposure. They are connected, but they are not the same. Thyge is registered as both a liquidator and a bankruptcy trustee, so he can explain where each issue sits and what may still be available. If separate formal appointments are needed, independent practitioners will be used. You will know that from the start.

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TTJ Advisory on the Northern Beaches

TTJ Advisory maintains a local office on the Northern Beaches, in addition to servicing clients by phone and video conference. Meetings can be arranged in person, which means business owners, accountants and lawyers in the area can work through a company's position without needing to travel into the city.

TTJ Advisory's Northern Beaches office is available for confidential, pre-arranged meetings. Contact TTJ Advisory to confirm current office details and appointment availability.

Discuss your personal situation with ThygeBook a confidential client consultation

EXPLORE

Northern Beaches Services

Woman at laptop in coat, contemplative

Bankruptcy

Overhead view of financial review with charts and graphs

Court-ordered Liquidation

Directors working at SME office desk

Creditors Voluntary Liquidation

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Deceased Estates

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Director Penalty Notices

CASE STUDIES

Read about how Northern Beaches businesses can benefit from TTJ's services.

Building contractor facing personal exposure

The notice arrived. The clock had already started.

Challenges

Fixed-price work, higher costs and delayed progress payments pushed a busy contractor behind with ATO and super obligations. A Director Penalty Notice brought the director's personal position into the matter.

Assets

Work in progress, contract receivables, vehicles, tools and equipment.

Debts

ATO and super liabilities, suppliers and finance commitments, with possible personal exposure for the director.

Proposal

The director's commercial lawyer brought Thyge in urgently for the insolvency assessment while retaining the legal matter. The company's position, the notice and the director's exposure would be reviewed separately, with timing treated as critical.

Building contractor looking over completed house

Outcome

No outcome is assumed. What remains available depends on the notice, lodgement history, timing and the underlying viability of the business.

Services Rendered

PRIMARY:  Small Business Restrucuring

SECONDARY: Directors Penalty Notice Amendment, Statutory Trustee, Bankruptcy Advice

Retail or lifestyle business

Stock was on the shelves. Cash was not.

Challenges

A local retailer overbought stock before demand slowed. Cash became tied up in inventory while rent, suppliers and tax obligations continued to fall due.

Assets

Saleable stock, online store, customer relationships, fixtures and equipment.

Debts

ATO liabilities, suppliers and lease commitments.

Proposal

The bookkeeper saw aged payables and tax liabilities worsening and suggested an early conversation. Thyge would assess whether a profitable core remained, what value could be recovered from stock and whether the cost base could realistically be reset.

Retail business owner standing in front of clothing racks

Outcome

No restructuring outcome is promised. Early review helps determine whether the business can be stabilised or whether an orderly exit would preserve more value.

Services Rendered

Professional services firm

A major client left. The tax debt stayed.

Challenges

An established consultancy relied heavily on one client. When the contract ended, receivables slowed but staff, software and occupancy costs continued. BAS and PAYG liabilities accumulated before the cost base could be reset.

Assets

Debtors, work in progress, client relationships, business IP and equipment.

Debts

Legacy ATO debt, employee entitlements and ordinary trade creditors.

Proposal

The firm's accountant made an early introduction. Thyge would first test whether the business remained viable at a lower cost base, then compare the available informal and formal pathways against a revised forecast.

Owner of a small professional services firm reviewing cash-flow reports with an accountant

Outcome

No outcome is assumed. The point is to assess the position while the client book, staff and underlying business may still hold value.

Services Rendered

Hotel and pub

Paid 18c in the dollar

Challenges

COVID-19 lockdowns, a 70% drop in monthly sales and high fixed and operating costs.

Assets

Debts

$280,000 unsecured, including $200,000 owed to the ATO

Proposal

A payment plan arranged with the ATO and other creditors to repay $40,000 over ten months.

Bartender holding a glass behind the bar of a small pub, shelves of glassware behind her

Outcome

Creditors accepted the proposal. Unsecured creditors received their scheduled payments. The business avoided liquidation and the cost of voluntary administration, enabling future profitability and stability.

Services Rendered

Restaurant group

Paid 22c in the dollar

Challenges

COVID-19 lockdowns, a significant drop in customer foot traffic and increased supply costs.

Assets

Debts

$240,000 unsecured, including $180,000 owed to the ATO

Proposal

$52,800 to unsecured creditors, paid over eight months, supported by a cashflow forecast prepared for the repayment plan.

Two restaurant workers smiling as they look at a laptop together at a table set with wine glasses

Outcome

Creditors accepted the proposal. Employees received their full superannuation and kept their jobs. Unsecured creditors received their scheduled payments. The business avoided liquidation and the cost of voluntary administration, allowing for future growth and stability.

Services Rendered

Custom cabinetry business

Paid 20c in the dollar

Challenges

Supply chain issues, higher material costs, fixed expenses and the impact of COVID-19.

Assets

Debts

$150,000 unsecured, including $125,000 owed to the ATO

Proposal

$30,000 lump sum for unsecured creditors, presented as a better return than liquidation.

Carpenter holding measuring device looking at camera with shelf construction in the backfround

Outcome

Creditors accepted the proposal. The business continued trading without significant debt and avoided voluntary administration.

Services Rendered

Construction business

Paid 15c in the dollar

Challenges

COVID-19 restrictions, supply chain disruption, increased material costs and project delays.

Assets

Cash at bank, vehicles and equipment

Debts

$300,000 unsecured, including $240,000 owed to the ATO

Proposal

$45,000 to creditors as a lump sum, supported by a detailed cashflow forecast and a private investor.

Construction worker with a hazard yellow vest on, with crossed arms, in front of a construction site with a crane and building in the background

Outcome

Creditors accepted the proposal. Unsecured creditors received their dividend. The business avoided liquidation and the cost of voluntary administration, and continued trading.

Services Rendered

How TTJ Advisory Works with Northern Beaches Businesses & Individuals

It starts with a confidential conversation about what has caused the pressure and what has already happened, such as ATO contact or creditor action. Thyge then assesses the position and sets out the pathways that are realistically available. If you already work with an accountant or lawyer, he deals with them directly and keeps everyone on the same page.

WHO YOU WILL WORK WITH:
Thyge Trafford-Jones

Thyge is an ASIC Registered Liquidator (No. 458321), Registered Small Business Restructuring Practitioner and AFSA Registered Bankruptcy Trustee (No. 1582).

He is a member of the Australian Reconstruction, Insolvency & Turnaround Association and CPA Australia. He is also a Justice of the Peace.

 

Thyge uses his life skills and 25+ years of broad experience to develop mutual trust and understanding with people and businesses who are facing financial difficulties.

Thyge Trafford-Jones, TTJ Advisory

Where do I start?

What happens when you get in touch


Your first conversation is confidential and focused on understanding what has happened. Thyge will explain the options in plain language, identify any deadlines already running, and set out the next step.


1. A confidential conversation. What's happened, what's owed, what's already been lodged.

2. An assessment of the position. Whether the business is viable, and where personal exposure sits.

3. An agreed next step. In writing, with what it involves and what it costs.

One question comes before all the options: is the business viable once the legacy debt is dealt with?

The answer decides everything after it, and it is the first thing Thyge will look at.


Eligibility, timing and outcomes turn on the facts of the matter. Nothing on this page is advice about your situation, and no pathway described here is available to every business. That is what the first conversation is for.

FAQ

The questions Northern Beaches business owners and individuals ask us most often.

When should a Northern Beaches business seek restructuring or insolvency advice?

It is worth seeking advice early when tax or super obligations are slipping, an ATO payment plan is no longer working, suppliers are tightening their terms, a major contract has been lost, or a Director Penalty Notice or personal guarantee is in play. Early advice generally provides more time to assess the available options.

Which Northern Beaches industries does TTJ Advisory assist?

TTJ Advisory works with owner-led businesses across the Northern Beaches, including construction and trades, hospitality, retail, professional services, marine and boating, and health and allied health. The circumstances of each business are assessed individually.

Can my accountant or lawyer contact TTJ Advisory on my behalf?

Yes. TTJ Advisory regularly works alongside accountants and lawyers on the Northern Beaches and is available for a confidential conversation before you are formally engaged, so your adviser can understand the options that may be available.

Which areas of the Northern Beaches does TTJ Advisory service?

TTJ Advisory works with businesses across the Northern Beaches, including Brookvale, Manly, Dee Why, Mona Vale and surrounding suburbs, as well as with clients further afield by phone and video conference.

Does TTJ Advisory have an office on the Northern Beaches?

Yes. TTJ Advisory has a local office on the Northern Beaches and can meet with business owners, accountants and lawyers in person by appointment, as well as by phone or video conference.

Browse Related
Tools & Resources

A step-by-step guide to Small Business Restructuring for accountants and advisers: how the process works, who may be eligible, and how to support clients in distress.

SBR eBook for Accountants

A complete guide to bankruptcy for sole traders in NSW by licensed trustee Thyge Trafford-Jones: eligibility, the process, what happens to assets, and the alternatives worth considering first.

Sole Trader Bankruptcy in NSW: Complete 2025 Guide by Licensed Trustee

An interactive tool to help directors and small business owners gauge whether a company may be insolvent and consider early next steps. A starting point, not a substitute for advice.

Insolvency Fact-checker

Read Our Blog

How can we help?

AUSTRALIA OFFICES:

SYDNEY:

160 Castlereagh St

Sydney NSW 2000

T 1300 124 338

info@ttjadvisory.com.au

NORTHERN BEACHES:

Suite 222, 20 Dale St

Brookvale NSW 2100

Thyge Trafford-Jones

  • Principal — ASIC Registered Liquidator (No. 458321) · AFSA Registered Trustee (No. 1582)

  • Member, Australian Restructuring Insolvency & Turnaround Association (ARITA)

  • Member, CPA Australia

TTJ Advisory is a registered business name of Restructure My Small Business Pty Ltd (ACN 670 511 476).


Liability limited by a scheme approved under Professional Standards Legislation.

© 2026 TTJ Advisory.

TTJ Advisory acknowledges the Traditional Custodians of the land on which we operate, live and gather as employees, and recognise their continuing connection to land, water and community. We pay respect to Elders past, present and emerging.

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