Building Industry Success Story
How Strategic Planning Turned a $500,000 Tax Problem into a $400,000 Win
Not all tax debt is the result of a bad business decision, and more often than not, it's the complete opposite.
A building business approached SBR Assist with a tax debt exceeding $500,000 and no clear path forward. In recent years, the business experienced cash flow challenges caused by rising labour costs and the collapse of two major building firms that went into administration. These external factors led to mounting creditor pressure and a significant increase in ATO liabilities.
Importantly, these issues were not a reflection of the client’s business model or management capability, but rather the result of unforeseen external circumstances beyond their control.
In collaboration we brought together the accountant, funding partner, insolvency practitioner, SBR Assist, and of course, the client/director. This collaborative groundwork gave the client confidence that once they invested in the process, every compliance and policy step within the SBR framework had been addressed
With strong communication and structure, the insolvency practitioner determined that a SBR was the most effective solution. Funding was also structured so the SBR was paid out in full within 20 days of plan approval. (This was a decisive factor in securing creditor support and ensuring the plan’s acceptance).
Finally, the outcome. A building business with over $500,000 in tax debt successfully restructured through the SBR process, saving more than $400,000 and keeping the business operational and positioned for future growth.At SBR Assist, this is what we bring to the table. Strategic foresight, structured collaboration, and proven results.
Not all tax debt is the result of a bad business decision, and more often than not, it's the complete opposite.
A building business approached SBR Assist with a tax debt exceeding $500,000 and no clear path forward. In recent years, the business experienced cash flow challenges caused by rising labour costs and the collapse of two major building firms that went into administration. These external factors led to mounting creditor pressure and a significant increase in ATO liabilities.
Importantly, these issues were not a reflection of the client’s business model or management capability, but rather the result of unforeseen external circumstances beyond their control.
In collaboration we brought together the accountant, funding partner, insolvency practitioner, SBR Assist, and of course, the client/director. This collaborative groundwork gave the client confidence that once they invested in the process, every compliance and policy step within the SBR framework had been addressed
With strong communication and structure, the insolvency practitioner determined that a SBR was the most effective solution. Funding was also structured so the SBR was paid out in full within 20 days of plan approval. (This was a decisive factor in securing creditor support and ensuring the plan’s acceptance).
Finally, the outcome. A building business with over $500,000 in tax debt successfully restructured through the SBR process, saving more than $400,000 and keeping the business operational and positioned for future growth.At SBR Assist, this is what we bring to the table. Strategic foresight, structured collaboration, and proven results.