• 4. Review of action items

    16 November 2011 meeting

    Action item

    3.1

    Description

    The ATO and ASIC will hold further discussions with their executives in relation to the formation of a prescribed ‘task force’. The ATO will take the lead on this and will develop a proposal for review and input by ASIC prior to ASIC tabling the proposal for consideration by their executive.

    Update 01082012: The ATO has received support at executive level, however ASIC was unable to provide an update as their representative did not attend for this item.

    Update 12112012: ASIC has raised this matter at Commissioner level and received approval to proceed. The ATO will develop a proposal for the establishment of a prescribed phoenix ‘task force’, to be tabled and discussed with members.

    Update 27032013: Refer Agenda item 9 below.

    Responsibility

    ATO and ASIC

    Due date

    Completed

    19 April 2012 meeting

    Action item

    3.2

    Description

    The ATO will review the data it currently receives from ASIC and ascertain if it can be manipulated further to assist in phoenix risk identification.

    Update 01082012: The ATO will formally write to ASIC to secure data to assist in this process.

    Update 12112012: Grant Darmanin to talk on this issue later in the meeting (similar to issue 3.1 above).

    Update 27032013: The ATO and ASIC agreed that a notice from the ATO lodged with ASIC is sufficient for ASIC to provide the requested information.

    Responsibility

    ATO

    Due date

    Completed

     

    Action item

    5.2

    Description

    ASIC will look at ideas on how members can, through forward planning, assist in identifying potential phoenix operators.

    Update 12112012: ASIC is in the process of profiling directors involved in phoenix activities. This includes obtaining liquidator reports specifically focusing on types of offences. There is potential for regulatory action to be undertaken against non-compliant liquidators. ASIC will provide a progress report at the next meeting.

    Update 27032013: Joe Zubcic provided a progress report on the forward planning strategies being implemented by ASIC to identify directors involved in phoenix activity including recent developments to use predictive approaches to address entities that might be tracking towards phoenix activity, and intervening to ensure director awareness of their obligations.

    Responsibility

    ASIC

    Due date

    Completed

    12 November 2012 meeting

    Action item

    3.1

    Description

    Forum members to provide comments on additional changes they would like made to the measuring effectiveness paper. Richard Collis distributed the paper and sought responses from each agency.

    Update 27032013: Feedback provided by members has been incorporated into the paper on the effectiveness of the forum. The ATO will circulate the revised paper to forum members prior to the next meeting.

    Responsibility

    ATO

    Due date

    27 March 2013

     

    Action item

    4.1

    Description

    Update on ATO’s use of ACC Fusion Centre. Refer Agenda item 5 below.

    Responsibility

    ACC

    Due date

    Completed

     

    Action item

    6.1

    Description

    The ATO will discuss with their Commissioner the proposal to establish a phoenix taskforce and report back at the next meeting. Refer Agenda item 8 below.

    Responsibility

    ATO

    Due date

    Completed

     

    Action item

    8.1

    Description

    Members to provide feedback and comments on a draft article which summarised the collaborative efforts being made by agencies to address phoenix activity (circulated electronically to members on 16 November) by close of business, 26th November 2012.

    Update 27032013: Final document has been distributed to all agencies. The article has been incorporated into website content of SEWPaC and DEEWR.

    Responsibility

    All

    Due date

    Completed

      Last modified: 03 Sep 2013QC 36900