Senator Deborah ONeill is chairing the Inquiry into Corporate Insolvency in Australia. (AAP Image/Lukas Coch)
The primacy of the Australian Taxation Office (ATO) as Australias biggest creditor when it comes to corporate insolvencies is being put under fresh scrutiny, as the Albanese government puts the spotlight on reforming mechanisms for winding up failed businesses.
The Parliamentary Joint Committee on Corporations and Financial Services kicks off its Inquiry into Corporate Insolvency in Australia as the government and corporate sectors look to limit the fallout from businesses collapsing.
Chaired by Senator Deb ONeill, the insolvency inquiry comes against a darkening economic backdrop of rising interest rates, ballooning energy …
Read the full article at: https://www.smartcompany.com.au/finance/tax/parliamentary-committee-scrutinises-ato-insolvencies/