Wednesday, 25 May 2011

Bankruptcies Ahoy II

Might it be that the new rules holding directors liable for unpaid superannuation contributions are a form of reward?

SiN has heard - from the orifi of insolvency oracles no less - that in the wake of the GFC, Julia Gillard and Wayne Swan instructed the taxman to forgo his generally zealous pursuit of the insolvent.

The last thing a weak government needed was a fearful constituency, listening with increasing alarm as a gleeful media reported on the revenue police's rabid pursuit of sequestration.

And so lightly the ATO trod. But no longer. Now the worst has passed, and the ATO is again gnawing on the carcasses of failure.

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