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Illegal phoenix activity is when a new company is created to continue the business of one that has been deliberately liquidated to avoid paying taxes, creditors and employee entitlements.
To avoid being burnt, you need to know how to protect your business from these phoenix operators.
Phoenix operators can leave unpaid suppliers and employees in the lurch and give themselves an unfair competitive advantage over legitimate businesses. By avoiding taxes, these illegal operators also deprive the whole community of funds that could have contributed to essential services.
There are steps you can take to protect your business against this illegal activity. These include:
If you suspect a business of engaging in illegal phoenix behaviour, report them to the ATO today by calling 1800 060 062 or emailing firstname.lastname@example.org