Submission: Insolvency reforms to support small business 

Despite having less than a week to respond to what the Government claims are the biggest changes to the insolvency regime in 30 years, the ARITA team submitted a comprehensive response to the Treasury on the proposals.

While the concepts behind the reforms are what ARITA has consistently advocated since 2014 and have been the centre point of our frequent engagement with Treasury since the start of the COVID-19 crisis, we remain very concerned about how some of these proposals have been reinterpreted. We are a particularly concerned at the concept of a lesser qualified insolvency practitioner and around the fact that the legislative package is incomplete and will remain so until just a couple of weeks before commencement.

ARITA will continue to advocate to ensure an efficient and effective framework and we will deliver comprehensive training and resources to our members to support you as best as possible in the transition ahead.

Read ARITA's submission