Australian fintech Beforepay has today announced the successful completion of its AU$4 million Series A capital raise. The round, which closed in nine days and was oversubscribed, brings the total amount raised this year to over AU$6 million. The AU$4m Series A round was led by venture capital investor, Airtasker Chairman and Vocus Communications founder […]
READ MOREPayGroup reveals Payroll HQ buyout
Listed HCM company PayGroup (PYG) as announced a $2.5 million, full-scrip buyout of payroll specialist Payroll HQ PayGroup will pay the $2.5 million by issuing just over 4.1 million shares On top of this, the company may need to pay another $1.3 million in shares at the same price based on Payroll’s 2021 financial year […]
READ MOREFormer Sydney restaurant operators penalised
The Fair Work Ombudsman has secured court penalties of $119,200 against the former operators of the Blue Moon Restaurant in western Sydney who underpaid an Indian employee more than $150,000. The Federal Circuit Court has ordered Rekha Thakadiyal Joseph to pay penalties of $63,600 and Jijo Thiruvankavil Esahac to pay penalties of $55,600. The two owned […]
READ MOREPublic servants caught in SG bungle
A government agency has botched superannuation benefit payments spanning a decade, affecting more than 56,000 employees who are owed tens and millions of dollars. The Northern Territory government owes about $39.5 million in superannuation contributions to the majority of current and past workers affected, according to its FY20 financial report. About 415 employees have been […]
READ MOREJobKeeper data matching flags 135,000 payment discrepancies
A data matching program between the Australian Taxation Office and Services Australia has flagged around 135,000 Australians who were receiving welfare payments when eligible for JobKeeper. The data matching program, which has existed since June, was established by the ATO to identify inappropriate access to JobKeeper, as well as the government’s early access superannuation scheme. […]
READ MORE7-Eleven repays $173m to employees, as stores improve payroll systems
More than 4,000 current and former franchisee employees at 7-Eleven franchises have been paid back $173m in underpaid wages, interest and superannuation between September 2015 and February 2020. The Fair Work Ombudsman (FWO) brought 11 litigations against 7-Eleven franchisees resulting in courts awarding more than $1.8 million in penalties against them, including for operating unlawful […]
READ MOREWoolworths opts out of JobMaker scheme
Supermarket chain Woolworths has announced the company will not be participating in the newly unveiled JobMaker hiring credit programme of the Federal Government. In a memo to employees seen by HRD, the retailer said it might not be appropriate to seek JobMaker benefits given the company’s strong financial performance amid the COVID-19 pandemic. The $74bn […]
READ MOREOperators of Barry Cafe penalised
The Fair Work Ombudsman has secured a total of $232,545 in penalties in Court against the company that operates ‘Barry Café’, in the Melbourne suburb of Northcote, and two of its directors after they deliberately underpaid 73 staff members more than $180,000. The Federal Circuit Court has penalised siblings Stavros and Anastasia Petroulias $33,919 and […]
READ MORENAB originally thought it had underpaid staff by $850,000. Now it looks more like $128 million
One of Australia’s big four banks is desperately playing catch up, as costly mistakes begin to blow out far beyond original estimates. NAB has issued an update announcing it reveals profits are expected to take a $450 million hit. Underpaid staff are one major factor, with the bank expecting it will now need to reimburse […]
READ MOREBusinesses could be repaying JobKeeper if they’ve been overpaid
The Australian Taxation Office has outlined what will happen to businesses that have been paid more in JobKeeper payments than to which they are entitled. In a recent notice on the ATO website, businesses were warned that they may have received overpayments in JobKeeper if they have incorrectly self-assessed themselves as eligible for the payment. […]
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