Turnbull Government cracks down on phoenix directors
By James Harkness · 14 September 2017 · Featured
By James Harkness · 14 September 2017 · Featured
A major crackdown is underway to stop directors exploiting the system, but what does this mean for your business? Find out how the Turnbull Government's reforms aim to tackle a growing problem.
Company directors will be issued with unique identification numbers as part of Federal Government reforms designed deter and penalise directors who engage in illegal phoenixing activity. The reforms were announced this week by Minister for Revenue and Financial Services, Kelly O’Dwyer, who said illegal phoenixing – the stripping and transfer of assets from one company […]
Tags: ATO, Australian Small Business and Family Enterprise Ombudsman, BDO, DIN, Director Identification Number, GST, Kate Carnell, Kelly O’Dwyer