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The unpaid super swindle: Labor’s industrial relations bill leaves biggest loophole open

The unpaid super swindle: Labor’s industrial relations bill leaves biggest loophole open | Paul Karp

https://www.theguardian.com/australia-news/2023/sep/10/labor-closing-loopholes-bill-wage-theft-superannuation?CMP=Share_AndroidApp_Other

Labor says non-payment of super should be in the same category as wage theft, but the ATO has never used existing criminal powers

The unpaid super swindle: Labor’s industrial relations bill leaves biggest loophole open | Paul Karp

Labor says non-payment of super should be in the same category as wage theft, but [they have not included it as a criminal offence in their industrial relations bill and] the ATO has never used existing criminal powers [as far as I could tell from the article the only powers the ATO has is fines, and fines mean next to nothing when a business has already declared bankruptcy]

1 comments

autotldr

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This is the best summary I could come up with:

Last week Labor introduced its closing loopholes bill, which could see dodgy bosses fined millions of dollars or face prison terms for wage theft.

Back in April the assistant treasurer, Stephen Jones, said the failure to pay super should be treated “in the same way as wage theft”.

The Albanese government also agreed with a Senate inquiry that recommended the new offence should apply to all forms of remuneration, including superannuation.

On Wednesday the ATO commissioner, Chris Jordan, noted “a growing number of profitable businesses who have the capacity to pay their bills but are choosing not to”.

Curiously, the draft platform circulated ahead of the 2023 conference removed super but left the promise to “develop further mechanisms to protect workers’ superannuation in the event of corporate collapse”.

Labor’s industrial relations bill aims to fix loopholes in the gig economy, labour hire, and insecure employment.

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