Radio New Zealand reports that employers are stealing their employee's KiwiSaver contributions:
Tens of thousands of workers are missing millions of dollars from their KiwiSaver accounts because their employers have failed to either pass on payments docked from their pay, or pay their own employer contributions.
Figures obtained by RNZ News show Inland Revenue is chasing thousands of employers for $29.3 million in outstanding payments and penalties that have accumulated since the retirement savings scheme was launched in 2007.
At the end of June 2015, 1663 employers had failed to pass on $15.3m in KiwiSaver payments deducted from their employees' own salaries to the IRD.
IRD views this simply as a tax issue to be handled by negotiation. But it seems to me to be an open-and-shut case of theft by a person in a special relationship (previously "theft by a servant"), which carries a penalty of seven years imprisonment. And that's the case regardless of whether the money is repaid or not. So why aren't they prosecuting?
Cocktails, Shots, & Drink Recipes
Drink in style.
Updated daily for your twisted enjoyment...
Check out today's videos, they take up our broadband bandwidth but these Youtube clips are particularly worth it!
NZ Daily Deal Aggregator
Save time - saving money. The best daily deals from around New Zealand pulled together onto one page & updated every 10 minutes.
Surrounded by nothing but tranquil water, SpringBreak Fiji brings together the best of everything
The Fijian Cup
The Pacific Touch Rugby festival (Fijian Cup and Kava Cup) is underway on November 2, 2017 and with support from Touch Fiji and...
Rock Island VANUATU
Rock Island is an all inclusive fully immersive travel experience which was brought into the music festival scene by The Rock and...
With seven years and growing under their belt; TourismHQ has established and continues to deliver on their extensive wealth of...
Bringing a new approach to Sport Tournaments