Submission | Inquiry into the Non-Payment of the Superannuation Guarantee
The Australian Chamber of Commerce and Industry (Australian Chamber) thanks the Economics References Committee (Committee) for the opportunity to make submissions in relation to its inquiry into the impact of non-payment of the Superannuation Guarantee (Inquiry).
The subject matter of the Inquiry is important. Non-payment of superannuation contributions affects us all. Unpaid superannuation deprives employees of their full retirement asset and it has implications for the age pension and other age related tax funded social protection. Continuing wilful non-payment constitutes intentional unfair competition for complying businesses.