Life Interests Testamentary Trusts

BE AWARE OF ILLEGAL PHOENIX ACTIVITY

The ATO is currently working with other government agencies to put a stop to illegal phoenix activity. Illegal phoenix activity occurs when a new company is created to continue the business of a company that has deliberately been liquidated to avoid payment of its debts such as taxes, creditors and employee entitlements. The warning signs can include:

  • Employees not receiving a payslip
  • The company ABN and name changes but the address and contact details remain the same
  • Employee entitlements such as superannuation are not being paid
  • Employee pays are late, less than they should be and are paid under the minimum wage
  • Employee payslips record a different employer to whom they believe they are working for

Please click on the link below to find out more:

Please contact Andrew Marshall or Janine Orpwood at Langley McKimmie Chartered Accountants on (03) 5427 8100 to discuss further.


We provide accounting and wealth management services to clients in WoodendGisborne and Macedon Ranges areas within Victoria Australia.   
   

The content within these articles was correct at the time of writing. Please contact us for updated information and advice. 

We provide accounting and wealth management services to clients in Woodend, Gisborne and Macedon Ranges areas within Victoria Australia.

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