Budget 2018/19: Increased “Phoenix” Activity

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Insights From MCA Accountants

Budget 2018/19: Increased “Phoenix” Activity

The Coalition will further increase activity to find and punish business owners running “phoenix” operations.

Basically this is where the business owner runs the business, fails to pay employee entitlements (such as super, holiday pay, long service leave, etc), then re-opens the business in a new name claiming a “fresh start”.

It’s illegal. It’s dirty. And Government should do everything in its power to catch them.

(We note that some businesses do genuinely have financial difficulty and fail to pay many of their expenses, staff included. A genuine business failure is not a phoenix activity)

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