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Liberal Party gives 26 year penalty holiday including ... tax deduction for superannuation theft!



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LIBERAL PARTY GIVES 26 YEAR PENALTY HOLIDAY INCLUDING…TAX

DEDUCTION FOR SUPERANNUATION THEFT!

Posted 29 May, 2018 in Media Releases

Posted 29

The Prime Minister and the Turnbull Government has today been caught out protecting

dodgy bosses who fail to pay superannuation to their employees.

Last week the Government sneakily introduced legislation that gives a 12-month “amnesty”

to employers who pay superannuation guarantee payments that they have failed to pay since 1

July 1992.

Usually, when employers do not meet their superannuation guarantee obligations they can be

liable for penalties and charges. These include a superannuation guarantee charge (which is

NOT tax-deductible) and additional penalties of up to 200 percent of the amount of the

superannuation guarantee charge.

The Turnbull Government’s proposed changes mean an employer could have kept

superannuation entitlements from an employee for more than 25 years, and will not face

any penalty if they pay it back during the amnesty.

Even worse, under the Government’s proposed amnesty, the superannuation guarantee

charge will also be tax deductible for employers - so dodgy employers get a tax break

for doing the wrong thing.

The Prime Minister had absolutely no idea of these moves when asked about it by the

Leader of the Opposition in Question Time today.

Only someone as out of touch as Malcolm Turnbull would reward dodgy businesses who

have been robbing workers for 25 years.

Businesses who do the wrong thing and steal from workers should pay the price for their

misconduct, not get another tax break from Malcolm Turnbull.

This ‘amnesty’ for dodgy employers comes completely from left field, got no mention in the

Budget, but was presumably a ‘decision taken but not yet announced’, and there’s no recent

parliamentary reports into unpaid super guarantee that has actually recommended such a

measure.

Today, Labor’s caucus determined to amend the Government’s legislation so that dodgy

bosses don’t get away with ripping off their workers.

Superannuation theft is just as bad as wages theft. Why should dodgy employers get away

with stealing hard-earned money from their employees?

When employees steal from employers, they rightly have the book thrown at them. Why is it

one rule for business and another rule for everyone else?