Published: 29 Apr 2022
Yet another government report has found that loose laws and ‘light touch’ compliance is costing Australians billions in unpaid super.
The auditor has found the Australian Tax Office’s reluctance to ‘proactively’ investigate unpaid super claims has led to it collecting a dismal 15% of what Australian workers are owed. Instead, workers are forced to make reports and do all the heavy lifting.
The ATO themselves have admitted that its compliance has next to no impact in reducing how much unpaid super there is - which ISA estimates has climbed to $5 billion a year.
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