ATO phoenix prosecution
In the wake of successfully prosecuting a Sydney man on charges relating to so-called 'phoenix' activities, the Australian Taxation Division (ATO) has revealed that it has raised more than $700 million in tax and penalties from the finalisation of more than 1,500 phoenix audits since 1998.
The ATO announced yesterday that the Sydney man, James Soong, had been sentenced to three years’ can for fault to ease up $6.7 million in tax instalments from the wages of employees in circumstances where one performers was liquidated and the employees moved to a backer party.
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