Tough new laws will be introduced in a bid to crack down on dodgy company directors and their advisers.
- Company directors will be given unique ID numbers in a bid to stop “phoenixing”
- The Directors Identification Numbers (DINs) will allow authorities to track activities through various government databases
- Suspected phoenixers could also be forced to provide a security deposit, which would be used to recover tax debts
Directors of Australian companies will be given a unique identification number to help stop the illegal activity of “phoenixing” where companies are stripped of assets and liquidated, then restarted under a dif…
Read the full article at: http://www.abc.net.au/news/2017-09-12/new-laws-to-target-dodgy-company-directors-and-phoenixing/8895444