#Prison
Jail time for employers who deny staff super
Employers who deny their employees their superannuation entitlements face up to a year in jail under legislation drafted by the Federal Government. According to Minister for Revenue and Financial Services, Kelly O’Dwyer, the purpose of the Treasury Laws Amendment (Taxation and Superannuation Guarantee Integrity Measures) Bill 2018 is protect workers’ superannuation entitlements and “modernise” the […]
ASIC taskforce recommends tripling penalties for corporate & financial sector misconduct
The taskforce charged with reviewing ASIC’s enforcement powers, including penalties regime, has recommended nearly tripling penalties for corporate and financial sector misconduct. In a position paper, published this week, The ASIC Enforcement Review Taskforce expressed concern that penalties available to address corporate and financial sector misconduct are inadequate, inconsistent or too low to act as a […]