Text of bill |
Explanatory memoranda |
Second reading speeches |
Proposed amendments |
Schedules of amendments |
Bills Digest
Bills of previous Parliaments
Although every effort is made to ensure the accuracy of bills homepages, the authoritative sources
for verifying the progress of bills are the House of Representatives Votes and Proceedings and the Journals of the Senate.
Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019
Type |
Government |
Originating house |
House of Representatives |
Status |
Not Proceeding |
Portfolio |
|
Summary
Amends: the Corporations Act 2001 to: introduce new criminal offences and civil penalty provisions for company officers that fail to prevent the company from making creditor-defeating dispositions and other persons that facilitate a company making a creditor-defeating disposition; allow liquidators to apply for a court order in relation to a voidable creditor-defeating disposition; enable the Australian Securities and Investments Commission to make orders to recover, for the benefit of a company's creditors, company property disposed of or benefits received under a voidable creditor-defeating disposition; prevent directors from improperly backdating resignations or ceasing to be a director when this would leave a company with no directors; and make amendments contingent on the commencement of the Corporations Amendment (Strengthening Protections for Employee Entitlements) Act 2019 and Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019; the A New Tax System (Goods and Services Tax) Act 1999 and Taxation Administration Act 1953 to enable the Commissioner of Taxation to collect estimates of anticipated goods and services tax (GST) liabilities and make company directors personally liable for their company's GST liabilities in certain circumstances; the Taxation Administration Act 1953 to authorise the commissioner to retain tax refunds where a taxpayer has failed to lodge a return or provide other information that may affect the amount of a refund; and five Acts to make consequential amendments.
Progress of bill
For committee reference information, please see the Notes section at the end of this page.
| House of Representatives |
| Introduced and read a first time |
13/02/19 |
|
| Second reading moved |
13/02/19 |
|
| Lapsed at dissolution |
11/04/19 |
|
| |
|
|
[Information on document types]
Text of bill
Explanatory memoranda
Second reading speeches
Proposed amendments
No proposed amendments have been circulated.
Schedules of amendments
Bills Digest
