George Montanez, Assistant Commissioner of the Phoenix and Evasion Program, joins Tax inVoice podcast host David Jepsen to talk about illegal phoenix activity, how it affects the Australian community and what the ATO is doing to disrupt illegal phoenix operators.
Illegal phoenix activity occurs when a company is liquidated, wound up or abandoned to avoid paying its debts and tax obligations. In its place, a new company is started to carry on the same business activity without the debt.
This creates an uneven playing field and puts businesses doing the right thing at a competitive disadvantage.
Through the Phoenix Taskforce, the ATO and other federal, state and territory agencies are working together to detect, deter and disrupt illegal phoenix activity.
For more information visit:
- Illegal phoenix activity
- Phoenix Taskforce
- Video: Protect your business from illegal phoenix activityExternal Link
- Fact sheet: Protect yourself against illegal phoenix activity (PDF, 390KB)External Link
- Making a tip off
- ATO podcast in your language
Media: Tax inVoice Episode 43: Don't get burned by illegal phoenix activity
https://tv.ato.gov.au/ato-tv/media?v=bi9or7odxs51tbExternal Link (Duration: 20:27)