Submission to the Senate Standing Committee on Economics
- Date:08 Nov 2011
- Type:Policy Submission
This
submission is in response to the Senate Standing Committee on Economics’
inquiry into the Tax Laws Amendment (2011 Measures No. 8) Bill 2011.
It is important that we express our views on the above Bill as it will potentially impact all directors in Australia. We are satisfied with the House of Representatives Standing Committee on Economics’ recommendations in their report relating to proposals to extend the director penalty regime to make directors personally liable for their company’s unpaid superannuation guarantee amounts. In particular, we strongly support that report’s three recommendations which relate to the phoenixing and company director provisions being:
- The Government investigate whether it is possible to amend the Bills to better target phoenix activity.
- The Government explore whether to expand and strengthen the defences for company directors available in the Bills.
- The House of Representatives pass the Tax Laws Amendment (2011 Measures No. 8) Bill 2011 after deleting its Schedule 3 and associated provisions.
Download our Submission to the Senate Standing Committee on Economics (PDF 238KB).
Download our October 2011 Submission to the House of Representatives Standing Committee on Economics (PDF 3MB).