$588m payday: Underpaid workers to receive massive windfall

Davida Erdahl

New Australian Taxation Business office figures launched on Monday identified about 24,000 companies have occur forward and disclosed they would be supplying again $588 million of unpaid or underpaid superannuation to employees.

Close to 393,000 employees will reward from the initiative which will see the income paid out directly into their tremendous funds or if they are no for a longer time doing the job, into their applicable financial institution accounts. 

Under the Federal Government’s superannuation assure amnesty there was a one particular-off chance for companies to occur forward in the very last six months to the ATO and fess up that they have improperly paid out their staff.

Assistant Minister for Superannuation, Financial Services and Monetary Technologies Senator Jane Hume mentioned the amnesty was “reuniting Australians with income that is rightfully theirs, making certain every bucks that is owed to staff goes again to them”.

“We know that in … Read More