LABOR POLICY LEADING THE WAY ON DODGY DIRECTORS

The Turnbull Government has been dragged kicking and screaming to finally take action on phoenix activity, almost four months after Labor unveiled its policy.

 

We've been calling for the introduction of director ID numbers since May, with support from the Productivity Commission, Australian Institute of Company Directors and  Australian Small Business and Family Enterprise Ombudsman.

 

It seems that - finally - public support has grown loud enough for the Turnbull Government to pay attention.

 

We can only hope they adopt the rest of Labor's plans to crack down on dodgy directors, including increasing penalties and introducing an objective test for transactions depriving employees of their entitlements.