Our small business accountants in Sydney explain what a Phoenix company is
Now that everyone’s small business taxes should be sent into the tax office to be reviewed there has been an alarmingly large case of Phoenix Companies arising. As small business accountants in Sydney, we want to explain to you what this means.
The term ‘Phoenix Company’ did come from the ATO as a way to describe companies who were avoiding or surviving liquidation. Here is how our business accountants explain what they are:
• The general concept of a Phoenix company is that it rises from the ashes of a failed company
If you are a small business who is owed money by some of these phoenix companies, then it is important for you to chase up with your small business accountants in Zetland to help you.