A third of Australian workers are still being ripped off on their superannuation entitlements, as rogue employers pocket almost $6 billion to fatten up their cash flows, according to a new report.The average underpayment for those short-changed was $2,070 per annum
In addition, the report found 370,000 Australians who make a salary sacrifice to supposedly boost their retirement nest eggs have lost $1.5 billion as their bosses either knowingly or unwittingly counted this towards the mandatory 9.5 per cent compulsory superannuation contribution. "Unless we see action from the major parties this election, those dodgy employers are going to continue to take advantage of lax tax laws, a weak regulator and insufficient penalties for ripping off hardworking Australians."
"It's not right for employers to be unscrupulous in using this loophole and reducing the amount that they're paying to their employees as part of their superannuation guarantee obligations," Ms O'Dwyer said at the time. The Senate Economics Committee held public hearings into superannuation underpayment. Its final report in 2017 found,"The negative impacts of the non-payment of the superannuation guarantee are pervasive".
Non payment of entitled superannuation benefits should be made a criminal offence to shake up these dodgy employers.
Alternate story … ABC Leftards pocketing hundreds of thousands of taxpayer $ each year, on the pretext of being fair and balanced.
Employers are the ones giving super to workers......would all prefer to hand it over to labors union cronies?
Coalition supporting businesses that rip off it's workers and pay no tax. ATM we can't afford. Vote LNP out.
Make plenty money not pay illegal Asian worker. All spend on Mrs Wang jewel.
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