Tap to compareMonthlyTotal to payHome at riskvs payment plan
1 and 4 are being compared. Tap any two numbers to compare those options.
ATO payment plan24 months, about the longest the ATO normally grants. Interest at 11.43% compounding daily
Monthly$9,366
Total to pay$224,795
No
baseline
Short-term business loan12 months, repaid weekly, personally guaranteed
Monthly$22,000
Total to pay$264,000
Yes
+$39,205
Refinance onto your homeIf you own property25 years at 6.92%, the debt becomes personal and secured
Monthly$1,403
Total to pay$421,010
Yes
+$196,215
Small business restructure (SBR)24 months, interest-free. $60,000 to creditors (30 cents in the dollar) plus $31,000 in fees
Monthly$3,792
Total to pay$91,000
No
−$133,795
SBR, then finance the balanceIf you own property25 years at 6.92%, same loan as above, on $91,000 instead of $200,000
Monthly$639
Total to pay$191,560
Yes
−$33,235
LiquidationCan keep tradingClose the company, but the business and assets can be purchased to keep trading. Cost depends on asset fair values, which are often worth less than the estimated liquidation cost.
MonthlyNil
Total to pay$23,000
Unclear
−$201,795
Compare your top two
Tap the row numbers above to change these
1ATO payment plan
4Small business restructure (SBR)
Difference
Monthly
$9,366
$3,792
+$5,575
Total to pay
$224,795
$91,000
+$133,795
Cost of the money
$24,795
Nil
+$24,795
Home at risk
No
No
Same
Small business restructure (SBR) costs $133,795 less in total than ATO payment plan, and $5,575 less a month. Neither puts your home at risk.
What refinancing can cost
$421,010
Refinanced onto your home over 25 years. The debt becomes personal, secured on the house, and beyond the reach of any company process.
What a restructure can save
$133,795
Against the payment plan. You repay part of the debt rather than all of it, and no interest runs while the plan is on foot.
Between the dearest and the cheapest
$330,010
Same debt, same day: refinance onto your home costs $421,010, small business restructure (SBR) costs $91,000. What changes is who you owe it to and what is standing behind it.
Not sure which of these is actually open to you? One conversation with a registered liquidator settles it, and it costs nothing.
General information only, not advice. Calculations based on benchmarks and subject to assessment of your specific circumstances.
SBR eligibility. An SBR needs total unsecured liabilities under $1 million, ATO lodgements up to date and staff superannuation paid.
Liquidation. $23,000 is Business Reset's standard fee for a creditors' voluntary liquidation, GST inclusive, and assumes the company has no assets to fund it.
Personal liability for ATO debts under a director penalty notice may require further payment to be made.
Tax. Calculations assume interest is tax deductible at 25% for a profitable company, otherwise no deduction is available. Whether you or your company are entitled to a deduction must be confirmed with your accountant before any decision.Privacy policy.