Small Business Restructure Eligibility Criteria
Entity type: Must be a company (not a sole trader, partnership, or trust).
Total liabilities: Must be less than $1 million (including tax, employee entitlements, creditors, etc.).
Tax lodgements: All tax lodgements (BAS, IAS, income tax, etc.) must be up to date, even if not paid.
Employee entitlements: All entitlements (wages, super, leave) must be paid and current at the time of entering SBR.
Director declaration: Directors must sign a declaration confirming eligibility.
Not used SBR recently: The company or directors must not have used an SBR in the past 7 years.
Appointment of a restructuring practitioner: Must engage a registered Small Business Restructuring Practitioner (SBRP).
Source – ASIC
