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Purpose of BULAW5915: Corporate Law Assessment (Semester 2)

The main purpose of BULAW5915: Corporate Law assessment is to enhance and develop research skills about a topic that deals with Australian corporate law. Moreover, it develops skills to think -how to format, structure and showcase arguments and effective ways to discuss and review the type of law is or required in that particular area. 

Requirements of BULAW5915: Corporate Law Assessment

Every assignment comes with few requirements and each student is required to meet them accordingly to achieve better grades in assessment. So, understand what BULAW5915: Corporate Law assignment need:

• Draft an assignment which should not exceed 2,750 words. 
• You are free to do independent research. In this regard, you can go through the books, e-books, journals, articles, Library databases, etc. as a reliable and credible source. 
• Include proper footnotes, references or bibliography in the end. 
• Submit your assignment through Moodle ‘Assignment submission link’. 

BULAW5915 Black Economy Task Force Questions 

To do the above assignment, you must answer the following questions. Our corporate law assignment help experts suggest to start an-depth research to find sufficient information. 

Questions Need To Be Answered:

1. Explain the terms ‘the black economy’ and ‘phoenixing’’. 
2. Evaluate the costs estimated to the Australian economy of phoenixing?
3. Identify the industry where phoenixing is most prevalent. Explain the case.
4. Discuss the difficulties which are faced in pursuance of phoenix entities by regulators. Regarding this, you will have to play as a role of directors and consider other ‘controlling minds’.
5. Explain the sources and initial warning signs which can help in finding the early phoenix activity?
6. Provide lists of recommendations in your report to cater to the enhancement of illegal phoenix activity in Australia? 

Let’s Tackle Each Question One-by-One

In the first question, you must define the meaning of the term ‘the black economy’ explaining what it includes. For example, issues like tax, visa fraud, GST, ABN or other fraud, fake contracts, money laundering, gambling, etc. Our economics expert says that illegal phoenix activities take place when a newly incorporated company starts to continue the services of an existing company and was intentionally just to avoid taxes. So, the question needs to answer in the given approach.

What are the estimated costs to the Australian economy of phoenixing? (2 marks)

In respect of the given assignment, the main goal of the Australian Taskforce is to minimise the impact of illegal phoenix activity and protect the public revenue and honest businessmen. During the research, our assignment helps experts find that illegal phoenix activities generally take place in every corner of Australia which affects the community, federal government, and contractors. They say that the phoenix activity can be anywhere in Australia, but it mainly occurs in the following areas; constructions, security, cleaning, building, etc. It is very much prevalent in cities with transport and mining. Moreover, your report must contain estimated costs to the Australian economy of Phoenixing just like the snapshot attached below:

What are the estimated costs to the Australian economy of phoenixing? (2 marks)

In respect of the given assignment, the main goal of the Australian Taskforce is to minimise the impact of illegal phoenix activity and protect the public revenue and honest businessmen. During the research, our assignment helps experts find that illegal phoenix activities generally take place in every corner of Australia which affects the community, federal government, and contractors. They say that the phoenix activity can be anywhere in Australia, but it mainly occurs in the following areas; constructions, security, cleaning, building, etc. It is very much prevalent in cities with transport and mining. Moreover, your report must contain estimated costs to the Australian economy of Phoenixing just like the snapshot attached below:

 In which industry is phoenixing most prevalent? Why do you think this is the case?

This question asks you to identify the industry where phoenixing is very much prevalent. The professionals engaged with law assignment help services have illustrated the industry as well as the case to help you understand the answer. 

It was disclosed by the Cole Royal Commission that in the building and construction industry illegal phoenix activity is quite prevalent. Nonetheless, you are also required to note that fraudulent phoenix activities are not just occurring in this sector but also affect other industries as well in where the labour cost is high. Few examples of these industries are labour-hire, cleaning industry, employment & security industry, transport industry, etc. If we talk about the development industry, you will come to find that fraudulent phoenix activities keep on continue when acquisitions take place because of GST, ITCs or related entities. 

Have a look at the figure given below to get further ideas to write BULAW5915: Corporate Law Question 3.

What are the difficulties faced by regulators in pursuing phoenix entities? In your response consider the role of directors and other ‘controlling minds’.

Phoenix taskforce is involved with overall 37 territories, federal and state agencies including the Attorney-General’s Department-Fair Entitlements Guarantee branch, ASIC (Australian Securities and Investment Commission), ATO, and the Fair Work Ombudsmen. 

Moreover, to answer your question correctly provides taskforce approaches considered by these agencies.  Such taskforces can be the best approach to look at fraudulent phoenix activity.

What sources, or early warning signs, may assist in the early identification of phoenix activity?

Phoenix Activity is not defined in the legislation of Australia. Surprisingly, it can be notoriously difficult. However, here the term “Phoenix activity” can be explained as a systematic and deliberate liquidation of a business trading. Talking about the sources and signs which can help in identifying phoenix activity, ATO is very much concentrated on the illegal phoenix businesses. To give an accurate answer for the above question, you can explain the list of warning signs such as:

If You’re Happy With Our Answers, Then Let’s Go Ahead and Order Your Law Assignment

As we have discussed, BULAW5915 Corporate Law assignment deals in the black economy, effects of phoenixing in the Australian economy, where phoenix is more prevalent, phoenix entities and recommendations to address the main reasons behind the increase of fraudulent phoenix activity. Students finding themselves stuck with these terms might need help from professionals and Online Assignment Expert is a trusted choice of hundreds of students. If you too need help with your Corporate Law assessments, then do contact us today. You can inquire via a phone call, live chat or simply send us your requirements through the email.