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

Explain the laws and rules of atlantic case, Explain the Laws and rules of ...

Explain the Laws and rules of atlantic case There are several laws and rules which were applicable to this situation: Paris Convention on Aerial Navigation of 1919 H

Technique of reference to arbitration, Technique of Reference to Arbitratio...

Technique of Reference to Arbitration Whereas a dispute may be referred to arbitration through like as; The parties in accordance by the agreement and The court wh

#title., What is hire purchase?

What is hire purchase?

Illustrate the doctrine of judicial precedent, Illustrate the doctrine of j...

Illustrate the doctrine of judicial precedent? The doctrine of judicial precedent It states that higher court decision are binding on lower courts and like a result it i

State differences between law and ethics, Question 1: (a) State five di...

Question 1: (a) State five differences between Law and Ethics. (b) Define what is meant by a ‘code of ethics' and state its importance for engineers. (c) Define the followin

Interpretation of constitution - high court, Interpretation of Constitution...

Interpretation of Constitution - High Court After then under Section 67(1) of the Constitution gives that whether any question as to the interpretation of the constitution ari

Legal framework of international shipping rules, Question 1: (a) Defin...

Question 1: (a) Define the term "Multimodal transport". (b) State the advantages of multimodal transport for forwarders. (c) Describe the different forms of multimodal trans

Discussion board question, I have an order in and I want to know what the 8...

I have an order in and I want to know what the 829.2 means and the order is 12.00?

Procedure for registration of trade unions, Question 1: (a) The Employ...

Question 1: (a) The Employment Relations Act does not apply to all categories of workers. Describe. (b) What is the main procedure for registration of trade unions? Qu

Essay on Legal Change, Identify and explain any legal changes which had res...

Identify and explain any legal changes which had resulted from Economic changes, Changes in our moral values and Political changes

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