ATO

In another example of wage theft, the Australian Tax Office (ATO) has revealed that employers have failed to pay superannuation for their staff by an average of $2.81 billion every year between 2009 and 2015: a total of $17 billion.

The worst offenders were small and medium businesses in the construction, retail, food and accommodation sectors.

The ATO has been investigating "the superannuation guarantee gap" — the difference between the 9.5% superannuation guarantee payment required by law and the contributions employers actually make.

US multinational energy corporation Chevron faces an increased tax bill of $340 million after losing an appeal against the Australian Taxation Office (ATO), over a landmark profit-shifting case.

The full Federal Court on April 21 unanimously upheld a previous decision that Chevron engaged in illegitimate transfer pricing by paying a higher rate of interest on a loan from its subsidiary to shift profits from Australia to the US.

Company profits have skyrocketed, while real wages have fallen. This is the harsh reality of the class war being pursued by Australia’s big-business rulers, as underlined by the latest Bureau of Statistics figures released on February 27.

In the last three months of last year, profits surged by a massive 20%, while wages fell by 0.5%. Over 2016, profits were up 26%, while wages grew by a mere 1%, less than the inflation rate of 1.5% — effectively a wage cut.

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