D'ya think 7/11 pays its super contributions for employees.....??

Bam wrote on Nov 18^th, 2015 at 7:37am:



It's a joke. A business went into Administration, and was order to have it's super paid directly to the tax office first to ensure it was actually done (after is failed in the past), but this only covered mandatory super. The business kept salary sacrificed super and didn't lodge it.

Bam wrote on Nov 18^th, 2015 at 10:19am:

The Australian super is just a big tax-fraud set up for the benefit of the 20% richest in the society.
The government provides every retiree with a safety net of the age pension, why does the government provide the very rich retirees with tax concessions, which often exceed the Centrelink pension.
It is well known that 80% of retirees will never accumulate enough super to be independent of the age pension, and would be greatly affected by the means test of the age pension.
The Hawke-Keating government set up a very ineffective system of super, and Howard-Costello government introduced the tax-free super for the over-sixties, really lining the pockets of the top 20% of rich retirees.
Now some employers are also cheating, by not paying the super entitlements of their employees, but the government is also remiss to allow this cheating to happen.

It was an excellent summation Hawil . Says it all really.

Workers owed $2.6b in unpaid super as government tries to reduce penalties

Date
    November 22, 2015 
    Sydney Morning Herald

Dan Warne thinks it is "ridiculous and counter-intuitive" that the federal government has moved to reduce the penalties on employers that don't pay superannuation to effectively zero.   

A few years ago, Warne faced a common problem. The telecommunications executive, a former Sydneysider who now lives in Melbourne, was one of almost 700,000 workers missing out on their rightful super at any given time.

"What possible benefit could there be to the community in letting companies break the law knowing there will be minimal penalties?" Warne says.   


Assistant Treasurer Kelly O'Dwyer says the legislation will ease the burden on small business.

Warne was one of the lucky ones. After six months of "hassling", the employer eventually coughed up. But it was an "unpleasant process" and Warne was shocked at how little power he had to force the company to do the right thing.

The Turnbull government is trying to reduce the financial penalties for employers caught not paying super, in reforms framed as a "red tape" issue. The legislation has passed the lower house but may face a tough passage in the Senate.

Meanwhile, a report last week suggests that under-payment and non-payment of compulsory superannuation – the 9.5 per cent employers withhold from each pay cheque – is rampant in Australia.   

Workers are being ripped off to the tune of $2.6 billion a year in compulsory super, affecting up to 7 per cent of the workforce at any given time. According to the report by Tria Investment Partners for industry super fund Cbus, the construction industry is the worst offender, followed by property services, mining, hospitality and manufacturing.

The main reason for super not being paid is simply non-compliance, which includes businesses with cash flow problems. Other reasons include operating in the cash economy, sham contracting and employer insolvency.

David Haynes, executive manager of policy and research at the Australian Institute of Superannuation Trustees, said the government had got it wrong. Real penalties were needed to act as a deterrent and to create an even playing field for businesses doing the right thing.

Assistant Treasurer Kelly O'Dwyer said the government's legislation would not stop penalties being imposed that are "very significant", but the changes should help small businesses that make inadvertent mistakes.

John Smith wrote on Nov 22^nd, 2015 at 9:50am:


And you are ugly and stupid - both unfixable by breeding or surgery so it sux to be anyone related to you now and in the future.

I've hit a nerve