CCH Learning

E-LearningBankruptcy and Insolvency

Phoenix Rising – Current ATO Focus

Duration
60 min
CPD
1.0 hour
Format
E-Learning
Phoenix Rising – Current ATO Focus

Overview

Ever wonder what the ATO is doing to deal with suspected Phoenix operators and how those strategies may affect your clients who strike financial difficulties? This session should answer those questions, so don’t miss out …

The session will cover:

  • What is ‘phoenixing’?
  • The history of ‘phoenixing’
  • Differences between ‘phoenixing’ and ‘normal’ insolvencies, especially on a repeated basis
  • The role of the ATO in dealing with suspected ‘phoenix operators’
  • The types of risks about which the ATO is particularly concerned (e.g. BAS reporting and debts)
  • The role of other agencies also dealing with ‘phoenix’ risks, including via the Inter-Agency Phoenix Forum
  • Tools/strategies that the ATO may use in dealing with suspected ‘phoenix operators’
  • Tools/strategies that other agencies may use in dealing with suspected ‘phoenix operators’
  • The risks that such tools/strategies may be applied to ‘innocent’ taxpayers and what advisors may do if this happens to their clients
  • Case studies considering how these tools/strategies may apply in practice
  • Current developments on ‘phoenix’ enforcement, including the recent report from the Parliamentary Committee into corporate insolvency
  • Future issues for potential ‘phoenix’ strategies

Learning Outcomes:

Participants will gain an improved understanding of:

  • How the ATO identifies/targets suspected ‘phoenix operators’
  • How the ATO tools/strategies may apply to both ‘phoenix operators’ and ‘innocent’ taxpayers who are targeted
  • What to do if clients are subject to such ‘phoenix’ tools/strategies

Suited to:

Accountants, tax practitioners, BAS agents, lawyers and other practitioners serving small businesses, private groups and wealthy individuals.

This On Demand recording Includes: 

  • Recording of the Live Webinar, which can be viewed multiple times, for as long as required 
  • Presenters contact details for follow up questions 
  • CPD Quiz
  • CPD Certificate 
  • CPD Report – Logged automatically 
  • PowerPoint Presentation
  • Verbatim Transcript, with Searchability
  • Supporting Documentation

Course syllabus

3 lessons

  1. Video – Phoenix Rising – Current ATO FocusVideo
  2. Feedback Survey QuestionsSurvey
  3. Knowledge QuizTest

Your presenter

Bruce CollinsTax Controversy Partners

is the founder and principal solicitor at Tax Controversy Partners Pty Limited, currently helping clients to resolve all types of tax issues with the ATO and SROs, as well as dealing with corporate regulatory and insolvency issues for clients. Before moving into private practice in 2017, Bruce worked for over 35 years in the Tax Office, a third of this time as a Senior Executive in what is now Client Engagement Group, covering most ATO functions. Bruce was the leader of the Technical & Case Leadership area in Private Wealth for several years prior to leaving the ATO, as well as having previously been the strategic and technical leader for many of the ATO’s compliance programs. Bruce led the Secretariat for the Inter-Agency Phoenix Forum (co-chaired with ASIC) and was the Risk Owner for the ATO’s Phoenix Risk and led the Phoenix Taskforce at the ATO from 2012 to 2015.

Bruce has an Accounting Certificate (1989), a First-Class Honours Degree in Law (1995), a Graduate Diploma in Legal Practice (1996), a Masters of Taxation (2003) and a Masters of International Taxation (2006). Bruce is a Chartered Tax Advisor with the Tax Institute, a member of the Law Society of NSW, a member of the AICD and is both a member of the Law Council of Australia and current Chair of their SME Business Law Committee.

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