Journal article

Illegal Phoenix Activity: Practical Ways to Improve the Recovery of Tax

H Anderson

Sydney Law Review | Sydney Law School | Published : 2018

Abstract

Illegal phoenix activity generally involves closing one debt-laden company and continuing its business through another company minus those debts. Its propensity to cause losses of federal revenue has recently been highlighted by the Australian Government Treasury announcement of a suite of measures to combat it. However, there is already an extensive array of legislative and administrative tools that are available against illegal phoenixing. This article considers both the existing and proposed measures and makes some practical suggestions to improve the recovery of tax. However, solutions are not found exclusively in tax law and its administration. Since illegal phoenix activity is facilita..

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University of Melbourne Researchers

Grants

Awarded by Australian Research Council


Funding Acknowledgements

The research reported in this article was funded by the Australian Research Council: DP140102277, 'Phoenix Activity: Regulating Fraudulent Use of the Corporate Form' (Chief Investigators: Helen Anderson, Ann O'Connell, Ian Ramsay, Michelle Welsh).