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ATO Crack down on Phoenix activities The Australian Tax Office (ATO) and the Australian Securities and Investments Commission (ASIC) have conducted raids on 13 businesses and residences across the country in a bid to crack down on “pre-insolvency” firms that advise clients on how to avoid tax. Some 120 ATO officers teamed up with their [...]

By | August 16th, 2016|Illegal Phoenix|0 Comments

Music-Streaming Company Debt Restructuring

Creditors have waived through debt restructuring deals for two of music-streaming service Guvera’s subsidiaries. A hit for taxpayers even as the Gold Coast-based parent awaits a research and development grant. Guvera placed subsidiaries Guvera Australia and Guv Services into administration in June. The company is owing almost $18 million to creditors including Tennis Australia, the Victoria Racing [...]

By | August 9th, 2016|Debt Management|0 Comments