Show the number of phoenix operators, Business Law and Ethics

Assignment Help:

Q. Show the Number of phoenix operators ?

A key challenge in quantifying phoenix activity is estimating the number of companies engaging in the activity. In 2001/02, 1.6% of complaints (194 complaints) that ASIC received related to phoenix activity and this was used as a lower bound estimate of the number of cases of phoenix activity per year. In 2009, the ATO finalised 124 phoenix cases and derived $83.3 million as a result.

Of these 124 cases, 75 were finalised via field audits or reviews, with the balance being a mixture of other compliance strategies. Out of these 75 cases, in 55 cases money was raised.

Therefore, the average liability raised by the ATO per productive case was $1.5 million. In the same year the ATO estimated that the current cases of suspected phoenix activity they were monitoring pose a risk to government revenue of $600 million per annum.

Using the average tax liability, it can be extrapolated that the ATO were monitoring approximately 400 cases of phoenix activity. This was also used to test the sensitivity of results.


Related Discussions:- Show the number of phoenix operators

Legal pyramid, Legal Pyramid: However the sources of England law menti...

Legal Pyramid: However the sources of England law mentioned above may be described through the aid of the following diagram or "legal pyramid"; NOTE: there as;

Define the liability, The MV unfortunate was talking passengers to Lyme Cay...

The MV unfortunate was talking passengers to Lyme Cay when it receive a distress signal from a vessel nearby the master started to proceed towards the vessel but stop when he reali

How are the commissioners appointed, QUESTION (i) (a) What is the compo...

QUESTION (i) (a) What is the composition of the Public Service Commission?     (b) How are the commissioners appointed? (ii) (a) What is the composition of the Judicial a

Describe the evolution of health and safety legislation, Question 1: Mr...

Question 1: Mr Ben is the director of ABC Ltd. He wishes to know whether he has any responsibility under the OSHA regarding the presence of the following in his enterprise:

Synopsis, Who would think a documentary about the collapse of a mammoth cor...

Who would think a documentary about the collapse of a mammoth corporation could play out like a drama with the emotional power of Greek tragedy? But that is the impact of enroll:th

State the linkages among policy research and policy decision, State the lin...

State the linkages between policy research and policy decisions The linkages between policy research and analysis and policy decisions are complex and, often, problematic but t

Partnership agreement - voidable contracts, Partnership Agreement - Voidabl...

Partnership Agreement - Voidable Contracts Conversely an infant is bound at common law through a partnership agreement although he is free to repudiate it at all time during i

Legislative options for addressing phoenix activity, Q. Legislative options...

Q. Legislative options for addressing phoenix activity? There are a range of legislative options for addressing phoenix activity and the following legislative options were expl

State the law of the sea, LAW OF THE SEA   The  sea  and  all  areas  of  ...

LAW OF THE SEA   The  sea  and  all  areas  of  the  sea  are  regulated  by  international  law.  The  jurisdiction  of international law extends from the right of passage over t

Determine the term miscoordination - policy formation, Determine the term m...

Determine the term miscoordination - Policy Formation A problem known as miscoordination in Policy Formation may also emerge and it may be either vertical or horizontal. Let us

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd