An analysis by Industry Super Australia submitted to the Economics References Committee into Wage Theft and Superannuation Guarantee Non-compliance, indicates that employers failed to pay an aggregate amount of $5.6 billion in SG contributions in 2013-14
The Turnbull government is seeking to crackdown on phoenix companies and as a result, each Australian company director will be assigned a unique identification number to prevent them being able to deliberately scuttle their companies to avoid paying creditors and then reappearing phoenix-like - debt-free.