New weapons in the war against phoenixing.
The Treasury Laws Amendment (Combating Illegal Phoenixing) Bill
2019 (Bill) passed through Parliament and received royal assent on
17 February 2020.
As reported in my previous article,
Combating Illegal Phoenixing Bill reintroduced into
parliament the government has ramped up its attack in
the ongoing war on illegal phoenix activity perpetrators. The
latest laws come under a suite of legislative initiatives
introduced to Parliament in recent times to combat this illegal
activity, which is estimated to cost taxpayers billions of dollars
annually.
The reforms are significant, including:
- restricting director resignations being backdated
