04 May 2008

Chiro Super fraud

A recent case come to mind, that one of a professional service, a Chiropractor’s clinic in Melbourne’s Collins St, failed to contribute to an employees super fund. The employee was not aware of this fact, and upon their departure, this was made evident.

The holding on to the super fund by the employer is illegal.

Funds held by the employer could be used to gain profit, e.g. in the stock market.

The employer was subsequently fined, and all interest paid back to the employee.

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