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Parliament extends director penalties to GST liabilities

John Oesterheld & Anthony Versace review new legislation which increases the accountability of company directors.

The ramifications of new legislation to aid in the fight against ‘phoenixing’ activities may be much further-reaching than some realise.The Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019 passed Parliament on Wednesday 5 February with an Opposition amendment, and Received Royal Assent on Monday 17 February. It is commendable legislation that takes activities that are detrimental to the Australian taxation system.The extension of director penalties to goods and services tax (G...

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Authors: John Oesterheld, Anthony Versace

Published Date: 24 February 2020

 

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