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Phoenix falling: New GST measure to fight tax avoidance in the property sector

February 13, 2018

Desperate times call for desperate measures. Following an ATO submission to the 2015 Senate Inquiry on ‘Insolvency in the Australian construction industry’, which reported that $1.8 billion in GST debt had been written off as a result of phoenix activity by property developers, the Australian Government announced drastic changes in the 2017-18 Budget which would attempt to stem the bleed.

Phoenix falling: New GST measure to fight tax avoidance in the property sector

Phoenix falling: New GST measure to fight tax avoidance in the property sector

Desperate times call for desperate measures. Following an ATO submission to the 2015 Senate Inquiry on ‘Insolvency in the Australian construction industry’, which reported that $1.8 billion in GST debt had been written off as a result of phoenix activity by property developers, the Australian Government announced drastic changes in the 2017-18 Budget which would attempt to stem the bleed. … Read More