Phoenix flames further doused.
Illegal phoenix activity in business is a well-known concept and
the government has been trying to combat it for decades.
As an insolvency practitioner I see first-hand how illegal
phoenix activity affects both the business and the wider community
through:
- non-payment of wages, superannuation and other employee
entitlements
- unfair advantage over other businesses
- non-payment of creditors including the Australian Taxation
Office (ATO)
- avoidance of regulatory obligations.
Following the 2014 Productivity Commission's recommendations
being implemented, the Phoenix Taskforce was established, which now
comprises 35 federal, state/ territory government agencies,
including the ATO, Australian Securities and Investments Commission
(ASIC), Department of Jobs and Small Business and the Fair Work
Ombudsman. The Phoenix Taskforce has developed sophisticated data
matching tools to identify, manage and monitor suspected
