Original article by Duncan Hughes
The Australian Financial Review – Page: 1 & 4 : 24-Jul-17

Australia loses around $A3 billion a year as a result of companies being reborn, otherwise known as phoenix activity. Losses occur in areas such as taxation, salaries and superannuation payments. A taskforce comprising bodies such as the Australian Taxation Office, the Australian Securities & Investments Commission and the Fair Work Ombudsman has been formed to try to combat the impact of phoenix activities, with advisers who try to encourage business owners to " rebirth" their company one of its main targets. The Black Economy Taskforce, which is investigating the cash economy, is also developing strategies to combat phoenix activities.

CORPORATES
AUSTRALIAN TAXATION OFFICE, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. FAIR WORK OMBUDSMAN, KPMG AUSTRALIA PTY LTD, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD