Submission: Pre-Budget Submission 2026-27
21/01/2025
ARITA has made a submission to Treasury ahead of the 2026-27 budget announcement.
In the submission, ARITA contends that overall insolvency numbers in 2025 have largely stabilised following significant increases in 2024, and that despite the Government’s laudable focus on productivity growth, Treasury and the Government have failed to meaningfully advance the recommendations of the Parliamentary Joint Committee on Corporations and Financial Services (the PJC) in its report on corporate insolvency in Australia (the PJC Inquiry) that had bipartisan political support and broad support in the insolvency and wider business community.
The submission proposes the following budget measures for 2026-27:
- A comprehensive review of insolvency system: An independent and comprehensive review of Australia’s insolvency laws is long overdue, the last having occurred more than 30 years ago.
- Implementation of the PJC Inquiry immediate reforms: immediate reforms would result in significant improvement to, and reduced cost of, some of Australia’s insolvency processes.
Read ARITA’s full submission.