• Article Rating
  •  Average 3 out of 5
  • Know the signs of dodgy business

    10 March 2020

    Could your business be at risk from an illegal phoenix operator?

    Illegal phoenix activity is when a company deliberately shuts down and re-forms to avoid paying its debts. This is an economy-wide issue that costs businesses, employees and the community billions each year.

    Know the warning signs and protect your business. Look out for the following behaviours from businesses you're working with, which may be a sign they're involved in illegal phoenix activity:

    • directors who have been involved with liquidated businesses before
    • requests for payment to a new company
    • changes of company directors and name, but the manager and staff remain the same
    • competitors offering quotes that are below market value.

    There are steps you can take to protect your business.

    Watch:

    • Protect your business from illegal phoenix activity

    Media: Protect your business from illegal phoenix activity
    http://tv.ato.gov.au/ato-tv/media?v=External Linkbd1bdiunjhxr4c (Duration: 0:33)

    Next step:

    Find out about:

  • Rate this article
  •  Average 3 out of 5