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The Forum > General Discussion > Proposed super changes, more red tape for business.

Proposed super changes, more red tape for business.

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It has been suggested that employees are going to get more choices of where employers place their super.

As if employers don't do enough unpaid work already, why not have a much simpler system whereby employers pay all super into a government managed fund, then employees log in and put it where they like. Heck, it may even create a few jobs, and paid ones at that.

While it may seem like im complaining, the reallity is many small business owners are not rocket scientists and it is quite easy to get a digit or two wrong, meaning the money goes somewhere else then has to be traced and hopefully recovered.

In my business I'm usually too busy to try to trace money gone to wrong accounts, I've done it before.

We need less red tape, not more.
Posted by rehctub, Tuesday, 20 October 2015 10:45:46 PM
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Butch, a little bit of agreement from me on that one. It was Labor's mistake in the first place not to have done something like that. Today, the big profits from supa flow to private insurance companies and others who operate most of the funds. This can all be managed through the Tax Office, they partly manage supa now.
Posted by Paul1405, Wednesday, 21 October 2015 7:35:40 AM
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As long as it stops the sweet deals, aka bribes, businesses get via discounts on other financial products of the Super provider in return for signing up their employees.
Posted by Houellebecq, Monday, 26 October 2015 11:42:16 AM
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