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Employers Given A Year To Pay Super Or Risk Jail (Read 452 times)
whiteknight
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Employers Given A Year To Pay Super Or Risk Jail
May 25th, 2018 at 9:02am
 
Employers given year to pay superannuation or risk jail   Smiley


   The Australian
   May 24, 2018


Businesses will be given a 12-month amnesty to pay unpaid superannuation to workers, with interest, or face new penalties, ­including possible jail terms. 

Financial Services Minister Kelly O’Dwyer said rogue ­employers who failed to take ­advantage of the amnesty, which starts today, would be hit with court orders under the government’s superannuation guarantee integrity measures.

It is estimated the amnesty will result in $230 million in unpaid superannuation being handed to about 50,000 employees.

“We are introducing this one-off amnesty to allow employers to wipe the slate clean and pay their workers what they’re owed,” Ms O’Dwyer told The Australian.

She said employers would not be let off the hook; to take advantage of the amnesty they would have to pay their workers their outstanding superannuation in full, plus interest calculated at 10 per cent a year.   Smiley

Employers who failed to take advantage of the amnesty would face higher penalties when they were caught, of at least 50 per cent of the money they owed, on top of the unpaid super.

Legislation before parliament will allow the Australian Taxation Office to seek court-imposed penalties for employers who defy ­directions to meet their superannuation guarantee liabilities, including up to 12 months’ jail in extreme cases.

The bill will also require superannuation funds to report ­employer contributions at least monthly to the ATO, allowing for the earlier identification of non-payment.   Smiley

The ATO estimates that in 2014-15 alone, about $2.85 billion in superannuation benefits went unpaid.

“While this represents a 95 per cent compliance rate, any level of non-compliance is unacceptable, which is why the Turnbull government is giving the ATO the tools it needs to enforce compliance,” Ms O’Dwyer said. “All Australians should be paid the ­entitlements they are owed.”

She said the government had not announced the amnesty as part of its Superannuation Guarantee Integrity Bill, introduced into parliament in March, as it could have encouraged employers to delay paying any superannuation debts.

Labor is broadly supportive of the Superannuation Guarantee Integrity Bill, which is currently before the Senate economics committee, but may propose amendments.

   
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Its time
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Re: Employers Given A Year To Pay Super Or Risk Jail
Reply #1 - May 25th, 2018 at 9:20am
 
There used to be a fine for employers  that didn't pay employees super within the required time frame , guess which party got rid of it ?
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Bam
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Re: Employers Given A Year To Pay Super Or Risk Jail
Reply #2 - May 25th, 2018 at 10:31am
 
Quote:
Employers who failed to take advantage of the amnesty would face higher penalties when they were caught, of at least 50 per cent of the money they owed, on top of the unpaid super.

A token fine at best. This will not be a sufficient deterrent.

The penalty should be 300% of the amount, or 1000% for wilful breaches, and any third offence or greater brings an automatic 1000% fine and risks a year in prison.

The right to strike should be reinstated without limitation for all employees whose super instalments are 90 days overdue. Every other supplier of a business and withhold supply for non-payment. Employees should have the same right.

If the penalties are not a real deterrent, employers will continue to break the law.
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hawil
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Re: Employers Given A Year To Pay Super Or Risk Jail
Reply #3 - May 25th, 2018 at 9:50pm
 
whiteknight wrote on May 25th, 2018 at 9:02am:
Employers given year to pay superannuation or risk jail   Smiley


   The Australian
   May 24, 2018


Businesses will be given a 12-month amnesty to pay unpaid superannuation to workers, with interest, or face new penalties, ­including possible jail terms. 

Financial Services Minister Kelly O’Dwyer said rogue ­employers who failed to take ­advantage of the amnesty, which starts today, would be hit with court orders under the government’s superannuation guarantee integrity measures.

It is estimated the amnesty will result in $230 million in unpaid superannuation being handed to about 50,000 employees.

“We are introducing this one-off amnesty to allow employers to wipe the slate clean and pay their workers what they’re owed,” Ms O’Dwyer told The Australian.

She said employers would not be let off the hook; to take advantage of the amnesty they would have to pay their workers their outstanding superannuation in full, plus interest calculated at 10 per cent a year.   Smiley

Employers who failed to take advantage of the amnesty would face higher penalties when they were caught, of at least 50 per cent of the money they owed, on top of the unpaid super.

Legislation before parliament will allow the Australian Taxation Office to seek court-imposed penalties for employers who defy ­directions to meet their superannuation guarantee liabilities, including up to 12 months’ jail in extreme cases.

The bill will also require superannuation funds to report ­employer contributions at least monthly to the ATO, allowing for the earlier identification of non-payment.   Smiley

The ATO estimates that in 2014-15 alone, about $2.85 billion in superannuation benefits went unpaid.

“While this represents a 95 per cent compliance rate, any level of non-compliance is unacceptable, which is why the Turnbull government is giving the ATO the tools it needs to enforce compliance,” Ms O’Dwyer said. “All Australians should be paid the ­entitlements they are owed.”

She said the government had not announced the amnesty as part of its Superannuation Guarantee Integrity Bill, introduced into parliament in March, as it could have encouraged employers to delay paying any superannuation debts.

Labor is broadly supportive of the Superannuation Guarantee Integrity Bill, which is currently before the Senate economics committee, but may propose amendments.

   

One year is much too generous, and workers will still lose a lot of their entitlements. The government wants to give rogue employers too much leeway to play their crooked game.
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Bam
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Re: Employers Given A Year To Pay Super Or Risk Jail
Reply #4 - May 25th, 2018 at 10:34pm
 
hawil wrote on May 25th, 2018 at 9:50pm:
whiteknight wrote on May 25th, 2018 at 9:02am:
Employers given year to pay superannuation or risk jail   Smiley


   The Australian
   May 24, 2018


Businesses will be given a 12-month amnesty to pay unpaid superannuation to workers, with interest, or face new penalties, ­including possible jail terms. 

Financial Services Minister Kelly O’Dwyer said rogue ­employers who failed to take ­advantage of the amnesty, which starts today, would be hit with court orders under the government’s superannuation guarantee integrity measures.

It is estimated the amnesty will result in $230 million in unpaid superannuation being handed to about 50,000 employees.

“We are introducing this one-off amnesty to allow employers to wipe the slate clean and pay their workers what they’re owed,” Ms O’Dwyer told The Australian.

She said employers would not be let off the hook; to take advantage of the amnesty they would have to pay their workers their outstanding superannuation in full, plus interest calculated at 10 per cent a year.   Smiley

Employers who failed to take advantage of the amnesty would face higher penalties when they were caught, of at least 50 per cent of the money they owed, on top of the unpaid super.

Legislation before parliament will allow the Australian Taxation Office to seek court-imposed penalties for employers who defy ­directions to meet their superannuation guarantee liabilities, including up to 12 months’ jail in extreme cases.

The bill will also require superannuation funds to report ­employer contributions at least monthly to the ATO, allowing for the earlier identification of non-payment.   Smiley

The ATO estimates that in 2014-15 alone, about $2.85 billion in superannuation benefits went unpaid.

“While this represents a 95 per cent compliance rate, any level of non-compliance is unacceptable, which is why the Turnbull government is giving the ATO the tools it needs to enforce compliance,” Ms O’Dwyer said. “All Australians should be paid the ­entitlements they are owed.”

She said the government had not announced the amnesty as part of its Superannuation Guarantee Integrity Bill, introduced into parliament in March, as it could have encouraged employers to delay paying any superannuation debts.

Labor is broadly supportive of the Superannuation Guarantee Integrity Bill, which is currently before the Senate economics committee, but may propose amendments.

   

One year is much too generous, and workers will still lose a lot of their entitlements. The government wants to give rogue employers too much leeway to play their crooked game.

Of course they do - Liberal governments are always the friend of corporate criminals.

That's why they are proposing a lengthy amnesty rather than simply legislating and then prosecuting.
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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.
 
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