PROTECTING GOLD COAST WORKERS FROM DODGY DIRECTORS
Honest workers and businesses on the Gold Coast will have greater protections under a Shorten Labor Government and its plans to name and shame dodgy phoenix directors.
Phoenix activity – where dodgy directors deliberately burn companies in an attempt to avoid their obligations to employees, government and honest businesses – is estimated to cost the Australian economy as much as $5.1 billion.
On the Gold Coast, more than 130 tradies and staff have been left millions of dollars out of pocket as a result of just one incident of alleged phoenix activity.
Tackling this problem will help boost productivity, protect vulnerable workers and secure the tax base.
A Shorten Labor Government would allow the Commissioner of Taxation to name individuals and entities as a penalty for the most serious tax offences. The Commissioner will also be able to apply to the consumer watchdog to have them formally seek disqualification orders for directors who engaged in or oversaw serious non-compliance.
While the Coalition and its turnstile of Treasury ministers have dragged their feet on illegal phoenix activity, Labor has been taking the lead, announcing a suite of anti-phoenixing measures and committing to a Director Identification Number 18 months ago.
It’s time that Scott Morrison got on board and adopted Labor’s plans to protect businesses and workers on the Gold Coast.
Fact sheet available here.
Authorised by Noah Carroll ALP Canberra