Changes in super (a few years back) have created so much work for employers and, they have increased the risk of non compliance, something that can bring large fines if the infringements are bad enough.

You see, business owners, large and small are the only link in the entire super chain that is unpaid for their efforts and, to make this even more complex, is simply adding to the decent felt by most who foot the increasing bills for this unpaid work.

As an example, it is possible for a business with say five staff, to have to pay super into five different funds and, this can also be changed, at will, by the employee, again, without one single cent being provided to the employer.

Now it's not the fault of the employee, as they are simply becoming increasingly aware of the benefits/risks of all the funds at their disposal, but few have any idea what is involved when they change funds.

The simple solution in my view would be for the government to establish a national super trust fund, where every cent of employer paid super is paid to, then employees can instruct their chosen funds to draw down from this fund.

How simple would that be.

At least this would be one burden removed from small business owners, most of whom are battling through what is the worst conditions I have seen in twenty plus years.

they allways talk aboput having a basket of investments
subsidisation of the money marketeers products..or bying options..aint working

plus the bonus scemes..its a way for govt to bailout big business..
by allowing the bosses to take your pay,..not their trust fund bonus

its a ponzie sceme..frontrunning is cheating
at least we got proceeds of crime seizure options
and oprivate for proffit prisons..with work camps..they should do well

retirement tip
in the end times people will be eating money
so suggest printing the notes on edible paper..not plastic..

but of course its chewey..
just ad some vegimite/or peanut paste..
or slice and dice it like noodles..[cooking it ..in stone soup is recomended..its ready when you can eat the rock..

yea we got all our eggs in the money markets..
when we need to own food supply

OUG have you had super paid on your behalf?
Are you aware industry super, the one indeed that stopped the payment of fees.
Lets you pick how it is invested.
Do you understand prior to that employers chose often saw rewards including over seas trips for putting the workers funds in to that scheme, often a badly performing one.
Do you OUG KNOW SOME OF THOSE schemes charge the whole balance, or near it,to get your funds out if early?
How many do not understand this is why many, take advantage of the right to pick your own scheme.
In this matter I am, in my view an expert.
It took up one third of my work life giving advice to workers on this complex issue.
I BEG! those with more than one scheme! PLEASE take an interest.
You are seeing money go FOREVER NEEDLESSLY.
And please! just take the time now to avoid regrets later, SOME schemes constantly under perform.
Some STILL charge too much.
I will not hang around this thread, only came to try to help those who want it.
Superannuation has been great to thousands, it bought my home and feeds me.
It is of eminence benefit to our country , in time we need never borrow funds over seas,as superannuation fills our country's investment coffers.
See you in another thread

Tell me more about the burdens on small business. I want to know more!

More!

We're the backbone of the country, and we're battling. We're battling battlers!

Just how much time does it take to transfer money to a different bank account?

Agreed, it's pretty trivial, Houellebecq.

>>Just how much time does it take to transfer money to a different bank account?<<

Especially when compared to the work needed to help the taxman collect his GST.

Or indeed payroll tax across different States, each with different rules. That's the one that sh1ts me most...

Houellebecq, that comment just goes to show how little you actually know.

First, you often have to hound the new worker to CORRECTLY fill out their forms. Not easy in butcher land, I can tell you.

Then, the paper work has to be checked and lodged, if it's correct, great, if it's not, it's yet more unpaid work.

Along with the bank deposit, you also have to fill in the contribution form.

And, at the end of the year you have to reconcile and hope you havnt made an error somewhere along the way as you can't issue group certs until your system has been reconciled.

All of the above being performed at our expense and, if we dare make an error we risk being finned.

I welcome you to find another unpaid job that comes with the threat of a fine if you get it wrong.