Please use this identifier to cite or link to this item: https://hdl.handle.net/2440/108254
Type: Journal article
Title: The Commissioner's power to issue creditor's statutory demands: implications for corporate rescue post insolvency
Author: Villios, S.
Citation: Australian Tax Review, 2014; 43(3):187-200
Publisher: Thomson Reuters
Issue Date: 2014
ISSN: 0311-094X
Statement of
Responsibility: 
Sylvia Villios
Abstract: The Commissioner’s role in a corporate insolvency has expanded as new forms of taxation have been created, leading to tax claims consuming more and more of an insolvent debtor’s estate. The literature which considers the role of the Commissioner in a corporate insolvency is predominantly concerned with whether the Commissioner should be given preferred treatment relative to other creditors; that is, whether such claims should be paid ahead of other unsecured, and in some cases also secured, claims. Many jurisdictions have traditionally conferred a priority on tax claims. The form and scope of such a priority varies. However, it appears that there is a trend towards the removal of taxation priorities. This article will outline the Law Reform Commission inquiries that led to the abolition of tax priority in Australia and will examine the various arguments concerning the proper role of the Commissioner in a corporate insolvency. In particular, this article argues that the Commissioner’s power to serve a company with a statutory demand has regrettable consequences when it comes to attempts to implement corporate rescue. The article suggests areas for reform and considers directions for future research and action.
Rights: © Thomson Reuters
Appears in Collections:Aurora harvest 8
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