Mackay Goodwin to join Penrith Valley Chamber Budget Brunch panel

National restructuring and advisory firm Mackay Goodwin will take part in the panel discussion at the Penrith Valley Chamber of Commerce Budget Brunch on Tuesday 30 June. The firm will join government and business representatives to discuss the implications of the 2026 Federal Budget for businesses across Greater Sydney, on a date that coincides with the final day of the financial year.

The Budget Brunch is an annual event on the Penrith Valley Chamber of Commerce calendar, bringing together government representatives, advisors and members of the local business community for a morning of analysis and discussion on the economic outlook for the region. The Chamber, which was formed in 1927, represents businesses across the Penrith and wider Western Sydney area and runs a regular program of networking and information events for its members.

The 2026 Federal Budget was handed down by Treasurer Jim Chalmers on 12 May. It was the first budget delivered by the Albanese government following the 2025 federal election. The Budget included changes to personal income tax and adjustments to property tax settings, including negative gearing and the capital gains tax discount, alongside further cost-of-living measures affecting households and small businesses. The Budget Brunch panel will consider what these measures mean for local operators as the new financial year begins on 1 July.

Mackay Goodwin will be represented on the panel by Gavin King, a Director of the firm who leads its national Personal Insolvency Division. Mr King has been a member of the Penrith Valley Chamber of Commerce since 2017. He is a Registered Trustee in Bankruptcy and a Registered Liquidator with more than 15 years of experience across personal and corporate insolvency, having worked with clients in sectors including building and construction, retail and consumer credit. In this role he works with individuals and company directors on personal insolvency and bankruptcy matters.

The panel discussion takes place against a backdrop of rising insolvency activity across Australia. According to ASIC, more than 11,000 companies entered external administration for the first time in 2023-24, a 39 per cent increase on the previous year. The construction industry accounted for the largest share of administrations at around 27 per cent, followed by the accommodation and food services sector. Over the same period, small business restructuring appointments grew by more than 200 per cent and now represent close to 13 per cent of all external administrations. While the total number of administrations was higher than in previous years, the proportion of registered companies entering external administration remained below the levels recorded in 2012-13.

Personal insolvency is also projected to increase. The Australian Financial Security Authority has forecast that personal insolvencies will rise to around 13,000 in 2025-26. The Australian Taxation Office remains the largest single creditor in many cases and has continued to pursue the recovery of outstanding business tax debts. Among the most commonly reported causes of business failure are inadequate cash flow and trading losses.

Mackay Goodwin works with businesses and individuals across each of these areas, providing advice and formal appointments in corporate recovery, restructuring, turnaround and insolvency. The firm's participation in the Budget Brunch forms part of its engagement with the Western Sydney business community.

About Mackay Goodwin

Founded in 2014 by Domenic Calabretta, Mackay Goodwin is a national corporate advisory, restructuring, turnaround and insolvency firm. The firm operates from offices in each mainland capital city as well as a number of regional centres, with a team that includes ASIC-registered liquidators and registered trustees in bankruptcy. Its services span corporate advisory, voluntary administration, deeds of company arrangement, small business restructuring, safe harbour, liquidation and personal insolvency, supporting businesses at each stage of their lifecycle. Mackay Goodwin has previously been recognised in the Australian Financial Review Fast 100 and the Australian Financial Review Top 100 Accounting Firms.

Contact

Mackay Goodwin (Head Office), Level 12, 20 Bridge Street, Sydney NSW 2000, mackaygoodwin.com.au, Ph: 1300 502 285