Retirement Income Review (2020).

Australian Taxation Office (ATO) (2022), Superannuation Guarantee Gap Latest estimates and trends , available at: www.ato.gov.au/about-ato/research-and-statistics/in-detail/tax-gap/superannuation-guarantee-gap/?page=3#Latest_estimates_and_trends.

Ibid.

ATO (2022), Super guarantee - annual employer compliance results, available at: Super guarantee - an...~https://www.ato.gov.au/Business/Super-for-employers/Super-guarantee---annual-employer-compliance-results/

This includes the total amount of $1,125 million raised from ATO compliance actions and employer disclosures of unpaid super, less adjustments for amendments and objections.

Unpublished ATO data.

Productivity Commission (2018), Superannuation : Assessing Efficiency and Competitiveness .

Australian National Audit Office (ANAO) (2022), Addressing Superannuation Guarantee Non - Compliance .

ANAO (2022), Addressing Superannuation Guarantee Non - Compliance .

Retirement Income Review (2020).

Productivity Commission (2018), Superannuation : Assessing Efficiency and Competitiveness .

Retirement Income Review (2020). Table 3D-5.

Productivity Commission (2018), Superannuation : Assessing Efficiency and Competitiveness .

Senate Economic References Committee (2022), Systemic , sustained and shameful : Unlawful underpayment of employees' remuneration .

Ibid.

Commissioner of Taxation Annual Report 2021-22.

Senate Economic References Committee (2022), Systemic , sustained and shameful : Unlawful underpayment of employees' remuneration .

Ibid.

Productivity Commission (2018), Superannuation : Assessing Efficiency and Competitiveness .

Senate Economic References Committee (2022), Systemic , sustained and shameful : Unlawful underpayment of employees' remuneration ; Senate Economics References Committee (2017).

Productivity Commission (2018), Superannuation : Assessing Efficiency and Competitiveness .

Senate Economic References Committee (2022), Systemic , sustained and shameful : Unlawful underpayment of employees' remuneration .

ANAO (2022), Addressing Superannuation Guarantee Non - Compliance .

Senate Economic References Committee (2022), Systemic , sustained and shameful : Unlawful underpayment of employees' remuneration ; Senate Economics References Committee (2017), ' Superbad - Wage theft and noncompliance of the Superannuation Guarantee' .

Retirement Income Review (2020).

Commissioner of Taxation Annual Report 2021-22.

Commissioner of Taxation Annual Report 2021-22.

ANAO (2022), Addressing Superannuation Guarantee Non - Compliance .

Senate Economic References Committee (2022), Systemic , sustained and shameful : Unlawful underpayment of employees' remuneration .

Superannuation Guarantee Cross Agency Working Group (2017), Superannuation Guarantee Non - compliance .

Treasury analysis of ATO data SG gap data for 2019-20.

Unpublished ATO data.

Australian Prudential Regulation Authority (APRA) (2023), Annual superannuation bulletin , available at: www.apra.gov.au/annual-superannuation-bulletin.

ATO (2023), SuperStream Certified Product register , available at: softwaredevelopers.ato.gov.au/SuperStream-certifiedproductregister. SuperStream transmits money and information consistently across the superannuation system between employers, funds, service providers and the ATO. With SuperStream money and data are sent electronically in a standard format, with data linked to the payment by a unique payment reference number. SuperStream is the way employers must pay employee SG contributions to superannuation funds.

Treasury Analysis of ATO data, 2022.

Commissioner of Taxation Annual Report 2021-22.

Senate Economics References Committee (2017), ' Superbad - Wage theft and noncompliance of the Superannuation Guarantee' .

Treasury analysis of ATO data for the 2021-22 financial year, 2023.

For each employer the number of payments to identify 'Employer wage payment cycle' as below: - Weekly: 4 to 5 payments per month - Fortnightly: 2 to 3 payments per month - Monthly: 1 payment per month - Unknown: ad hoc wage cycle or more than 5 payments per month

Treasury analysis of ATO data, 2023

For this estimation it is assumed that all employers which paid SG quarterly in 2021-22 for which wage cycle was unknown would need to pay SG more frequently, given that wages are legally required to be paid at least monthly. The impact is assumed to be uncertain for other employers for which either the wage cycle was unknown, or the SG cycle was unknown.

Treasury analysis of APRA (2023) Annual superannuation bulletin June 2022 . The rate of return on investment is assumed to be the equal to the 10-year average annualised rate of return for APRA-regulated entities with more than 4 members.

Analysis assumes the total amount of SG in each category is paid through equal instalments with the given frequency (i.e. quarterly involves 4 payments per year, monthly 12, fortnightly 26). Analysis only covers SG amounts for which employer SG cycle and wage cycle are known. This analysis does not take into account related changes in employee balances because of LISTO co-contributions made by Government, SG amounts which become excess concessional contributions, early releases, benefits or Division 293 Tax.

Treasury analysis based on ATO and APRA data.

Only employers for which both SG and wages cycles in 2021-22 were known are included in these estimates.

Treasury analysis of APRA (2023) Annual superannuation bulletin June 2022 . Assumed annual fee rate estimated as the ratio of total fees to total assets held by APRA-regulated funds in June 2022.

Treasury analysis of ATO data, 2023

The impact is assumed to be uncertain for employers for which either the wage cycle was unknown, or the SG cycle was unknown.

ATO (2019), SRF711 . 0 quarterly report , available at: https://www.ato.gov.au/misc/downloads/pdf/qc56074.pdf.

ATO (2023), SuperStream Certified Product register , available at: softwaredevelopers.ato.gov.au/SuperStream-certifiedproductregister. LUCRF Pty Ltd Clearing House had been closed at the time of this IA.

Treasury web review of clearing house operator offerings and product disclosure statements. Limited data is available on commercial clearing house activities.

Treasury analysis of ATO data, 2021-22.

The New Payments Platform is an open access infrastructure developed by the Reserve Bank of Australia and industry to enable electronic payments with near real-time funds availability to the recipient.

Australian Bureau of Statistics (2022) (ABS), Counts of Australian Businesses , including Entries and Exits .

ABC (2021), Workers' superannuation used to prop up small businesses struggling with cashflow . Should it ?, available at: https://www.abc.net.au/news/2021-10-29/workers-superannuation-is-being-used-to-prop-up-small-businesses/100577450.

Industry Super Australia (2022), Government urged to stop the $ 77 million Tasmanian super rip off , available at: https://www.industrysuper.com/assets/FileDownloadCTA/Government-urged-to-stop-the-77-million-Tasmanian-super-rip-off.pdf.

CBUS (2020), Submission to Senate Economics References Committee (2022), Unlawful underpayment of employees' remuneration' .

AIST (2022), 2022-23 October Pre-Budget submission.

CHOICE (2022), What to do if your employer doesn't pay your super , available at: https://www.choice.com.au/money/financial-planning-and-investing/superannuation/articles/unpaid-super.

Sydney Morning Herald (2019), ' A nightmare' : Funds push for tougher action to stop unpaid super , available at: https://www.smh.com.au/business/small-business/a-nightmare-funds-push-for-tougher-action-to-stop-unpaid-super-20190819-p52igc.html.

ACTU (2018), Submission to Senate Economics Legislation Committee, Inquiry into Treasury Laws Amendment ( 2018 Measure No . 4 ) Bill 2018 .

Shop, Distributive and Allied Employees' Association (2020), Submission to Senate Economics References Committee (2022), Unlawful underpayment of employees' remuneration' .

CPA Australia (2017), Submission to Senate Economics References Committee (2017), ' Superbad - Wage theft and noncompliance of the Superannuation Guarantee' .

COTA (2017), Submission to Senate Economics References Committee (2017), ' Superbad - Wage theft and noncompliance of the Superannuation Guarantee' .

Senate Economics References Committee (2017), ' Superbad - Wage theft and noncompliance of the Superannuation Guarantee' .

ANAO (2022), Addressing Superannuation Guarantee Non - Compliance .

Superannuation : Assessing Efficiency and Competitiveness , Productivity Commission 2018.

Ibid.

Ibid.

ANAO (2022), Addressing Superannuation Guarantee Non - Compliance .

Ibid.

ATO (2021), Superannuation guarantee amnesty , available at: www.ato.gov.au/business/super-for-employers/missed-and-late-super-guarantee-payments/the-super-guarantee-charge/Superannuation-guarantee-amnesty/#Amountsdisclosed.

Ibid.

ANAO (2022), Addressing Superannuation Guarantee Non - Compliance .

Ibid.