Piercing the Corporate Veil to Reach the Money for Employees: Why, How and Where to Next?
Company and Securities Law Journal | Thomson Reuters | Published : 2019
It is arguable that it has never been more necessary to pierce the corporate veil than it is today. There appears to be a growing abuse of corporate structures to avoid payment of employee entitlements and related taxation obligations, as well as to exploit workers through a wide range of dubious employment arrangements. In response, the Australian Government has passed legislation extending liability to holding companies and responsible franchisors through amendment to the Fair Work Act 2009 (Cth) (Fair Work Act), and other reforms to the Corporations Act 2001 (Cth) allowing contribution orders against related companies and beyond are proposed. A draft Bill to combat illegal phoenix activit..View full abstract