Su­per re­forms not enough

Alpine Observer - - News -

FED­ERAL In­de­pen­dent MP Cathy McGowan (MHR, Indi) has sought fur­ther gov­ern­ment ac­tion on the su­per­an­nu­a­tion “emer­gency” af­fect­ing Indi peo­ple to the tune of nearly $23 mil­lion.

Ms McGowan has in­tro­duced a mo­tion to the par­lia­ment urg­ing the gov­ern­ment to adopt all 32 rec­om­men­da­tions of a Se­nate re­port on Su­per­an­nu­a­tion Guar­an­tee non-com­pli­ance.

The gov­ern­ment will in­tro­duce a pack­age of re­forms to give the Aus­tralian Tax­a­tion Of­fice stronger re­cov­ery pow­ers, but Ms McGowan said the re­forms needed to go fur­ther.

“I wel­come the strength­en­ing of em­ployer penal­ties for non- com­pli­ance, in­creased pow­ers for the ATO when deal­ing with re­peat of­fend­ers, and a ‘sin­gle touch’ pay­roll elec­tronic pay­ments sys­tem,” Ms McGowan said.

“How­ever, I call the gov­ern­ment to act on fur­ther key re­forms in­clud­ing es­tab­lish­ing a safety net to cover work­ers when em­ploy­ers be­come bank­rupt and im­proved payslip re­port­ing.”

Ms McGowan praised Wan­garatta’s Ch­eryl Robl who has high­lighted the per­sonal im­pact of miss­ing out on her su­per­an­nu­a­tion en­ti­tle­ments.

“Ms Robl’s em­ployer had de­clared bank­ruptcy, leav­ing her re­tire­ment fund short­changed by more than $8000,” she said.

Ms McGowan raised Ms Robl’s case with the Min­is­ter for Rev­enue and Fi­nan­cial Ser­vices, Kelly O’Dwyer in par­lia­ment and said the Wan­garatta res­i­dent is not alone - a re­port from In­dus­try Su­per Aus­tralia and Cbus in De­cem­ber 2016 in­di­cat­ing peo­ple in Indi were un­der­paid $22,904,770 in su­per­an­nu­a­tion.

“The Su­per­an­nu­a­tion Guar­an­tee has to be seen as part of Aus­tralians’ re­tire­ment sav­ings and it must be paid,” Ms McGowan said. FREE

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