Tags
ASIC ATO banks budget charity compliance CPA deduction deductions discrimination dividends education emissions trading employees employers Fair Work Act fees first home buyers insolvency insurance Investment liquidation loans management fees not-for-profit Penalties pensions phoenix politics Property red tape safe harbour SGC SMSF sport Super Superannuation superannuations Tax tax agents tax deductions tax evasion trusts women workplaceCategories
Tag Archives: phoenix
DIRECTOR PENALTY NOTICES TO INCLUDE UNPAID SUPERANNUATION
In the recent 2011 Federal Budget, the Government made its intentions clear in dealing with “phoenix activities” by Directors. The term “phoenix activities” is commonly used to describe arrangements whereby a company incurs, but does not pay, various liabilities whilst … Continue reading
Phoenix operator jailed for $6.7 million fraud
James Soong, 65, was today sentenced to three years jail in the Sydney Downing Court for failing to remit $6.7 million to the ATO. Between October 1995 and July 1998 two companies operated by Mr Soong deducted tax instalments totalling … Continue reading
ATO plans Security Bonds to beat phoenix Activity
The ATO is seeking amendments to its powers with the introduction of the Draft Tax Laws Amendment Bill 2010 that will give the ATO discretionary power to demand security deposits from businesses as part of securing likely or expected tax … Continue reading
