The Treasury Laws Amendment (Combatting Illegal Phoenixing) Bill 2019 is currently before the Federal Parliament awaiting debate. The Bill contains several measures announced in the 2018-19 Budget to counter illegal phoenixing activity.
The tax measures in the Bill are likely to take effect from 1 January 2020. They will provide the ATO with additional levers to improve Goods and Services Tax (GST) collections, and enable the ATO to act more promptly and with greater pressure applied to taxpayers.
Source: Deloitte
