Important amendments to Australia's tax laws have been passed by the Parliament, said Assistant Treasurer David Bradbury.
Tax Laws Amendment (2012 Measures no. 2) Bill was passed by the Senate and includes provisions to strengthen the director penalty regime and protects workers' superannuation entitlements and amendments to the taxation of financial arrangements and consolidation regimes.
"These changes are part of the Government's continued commitment to maintaining the integrity, equity and fairness of the tax system," said Mr Bradbury.
The Bill will strengthen directors' obligations to arrange for their companies to meet Pay As You Go (PAYG) withholding and superannuation obligations and help counter phoenix activity.
"The Gillard Government is committed to protecting workers' entitlements," said Mr Bradbury.
"This legislation makes it clear that directors have an obligation to ensure that provision is made for the ongoing payment of workers' superannuation.
"It also ensures that fraudulent directors who use phoenix companies to try and avoid their debts can be held personally liable for their PAYG withholding and superannuation obligations."