Submission to the Treasury | Reforms to combat illegal phoenix activity – Draft Legislation | September 27, 2018

The Australian Chamber generally supports the Government considering targeted, balanced and workable ways in which to reduce the incidence and incentives of directors and businesses to engage in fraudulent phoenix activities. It is important to note however, that measures should not inhibit responsible risk taking, innovation, entrepreneurship. Care needs to be taken to ensure our laws do not have the effect of discouraging business rescue.