Why Double Bay eyebrow queen Kristin Fisher owes $870,000 to the Australian Taxation Office, Commonwealth Bank

Sydney’s eyebrow queen to the stars is battling a massive debt to the Australian Tax Office, as she says Covid lockdowns and the end of her marriage resulted in an $870,000 shortfall.

Celebrity eyebrow artist Kristin Fisher is close to $900,000 in debt, with documents revealing the “calamitous” collapse of her marriage and Covid lockdowns contributed to her financial woes.

The Double Bay socialite was forced to bring in a restructuring specialist amid mounting debts to the ATO, the Commonwealth Bank and the Workers Compensation National Insurer, reaching $871,736.

In documents to the Australian Securities and Investments Commission (ASIC), Ms Fisher blamed Covid for a $927,000 drop in revenue.

A report by restructuring specialist Mervyn Kitay of forensic accountants Worrells said Ms Fisher’s business could not operate at full capacity for two years during the pandemic.

“Ms Kristin Barnes, advised that at the beginning of 2020, the business suffered both the effects of Covid-19 and the breakdown of her marriage,” Mr Kitay told ASIC.

“Both events are described as ‘calamitous’ on her personal and business life.”

Kristin Fisher pictured at home in Double Bay. Picture: Toby Zerna

Mr Kitay said Ms Fisher, who is referred to in the documents by her married name Kristin Barnes, suffered financially from the relationship breakdown, “where she became the primary carer of her two children”.

The financial representative was required to submit a restructuring plan to ASIC, in order to prevent the company from becoming insolvent.

The plan resulted in a proposal to pay $216,000 this year, with outstanding debt still required to be paid.

Despite the debts, Kristin Fisher Eyebrows in Double Bay remains a successful business, charging anything from $40 to $1600 for eyebrow treatment for her many celebrity clients. She opened a new shop in Perth in June.

Ms Fisher has two kids with her personal trainer ex-husband Chris Barnes. The pair were together for a decade and married for seven years.

Eyebrow queen Kristin Fisher pictured at her beauty shop in Double Bay. Picture: Toby Zerna

Mr Barnes reiterated his 2020 statement that he and Ms Fisher’s split was amicable and that the pair were doing everything they could for their children.

In the ASIC documents, Mr Kitay said Ms Fisher’s former husband “did not (or) could not provide any financial support for her or the children”.

“It is clear from my review, that the combined effects of Covid (including lock downs) and the matrimonial breakdown, exacerbated by a lack of financial advice, resulted in the business becoming the primary source of funding for both its affairs and that of Ms Barnes personally,” Mr Kitay wrote.

“The effect of this was the start of what may be described as a substantial increase in indebtedness owed by Ms Barnes to the Company. For example, the Company became the source of funding of Ms Barnes’ personal income tax debts.”

Ms Fisher’s financial adviser was told she could not borrow more funds after a $300,000 loan was taken out to make improvements on the image of her business “in order to attract a higher paying clientele”.