The government has recovered about $345 million of these payouts over the past five years, including through actions as a creditor.
This scheme provides workers annual and long service leave payments, up to 13 weeks of unpaid wages, up to five weeks of payment in lieu of notice and a maximum of four weeks redundancy pay for each full year of service. Unpaid superannuation is not covered.
Most employees’ redundancy payments are capped at 12 weeks but those on union-negotiated deals and individual contracts can build payouts faster and to much higher levels that can be worth hundreds of thousands of dollars.
Leading employer association Ai Group warns the government the cost of the scheme could rise significantly during the economic cr…
Read the full article at: https://www.smh.com.au/politics/federal/a-very-big-bill-taxpayers-to-be-slugged-with-staff-costs-for-failed-businesses-20200908-p55tgu.html