"ALERT" Changes to Tax Legislation

The ATO receives an extension of their powers against directors. 
On 29 June 2012, the Tax Laws Amendment (2012 Measures No. 2) Act 2012 received Royal Assent with retrospective effect. This new legislation seeks to implement the changes proposed in the Federal Government’s Action against fraudulent phoenix activity paper, published in March 2009.

Please Click Here for a more detailed explanation of the new legislation. 
This article discusses the changes to the legislation and the potential implications of these changes. 
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