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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the ups and downs of online auctions, the power of activist short-sellers, and tax time 2021.

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Steve Waters, director of Right Property Group, chats about online auctions and why they resemble “a bad Zoom meeting”, the growing resilience of the property market, and how Sydney’s lengthy lockdown could shake things up.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into short selling – the original trade that sent GameStop stock soaring – and how activist short-sellers are impacting markets.

And lastly, tax and super guru Timothy Munro talks about those early tax lodgers and possible ramifications, as well as detailing the temporary shortcut method, which you may be able to use this tax time.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Wage theft could put Qld bosses behind bars for 10 years

By Grace Ormsby

September 10 2020
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Wage theft could put Qld bosses behind bars for 10 years

By Grace Ormsby
September 10 2020

Queensland bosses who skip out on super payments or underpay their employees’ wages can now end up in jail, with wage theft now criminalised in the state.

Wage theft could put Qld bosses behind bars for 10 years

By Grace Ormsby

September 10 2020
Share

Queensland bosses who skip out on super payments or underpay their employees’ wages can now end up in jail, with wage theft now criminalised in the state.

With wage theft affecting one in four Queensland workers, Industrial Relations Minister Grace Grace has said “enough is enough”, announcing the passage of new laws that now place wage and superannuation theft on the same level as “stealing as a clerk or servant”.

Stealing as a clerk or servant carries a maximum penalty of 10 years imprisonment, with employers who underpay or incorrectly pay staff now liable for the same penalty.

Ms Grace said the state government is committed to protecting the rights of workers across Queensland, and reversing a trend that sees one in four employees affected.

She highlighted that wage theft “takes $2.2 billion out of Queensland workers’ pockets each year in unpaid wages and superannuation”.

“Far too often and for far too long, the stories of wage theft and underpayment have continued unabated.”

As well as increased penalties, workers will now find it far easier to recoup unpaid wages.

Ms Grace said new laws were required after it was recognised that “the current framework is not doing the job”, and something needed to change.

She said stronger penalties and deterrence measures are needed for anyone committing wage theft “particularly where it is deliberate and systematic and part of an employer’s business model”.

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

About the author

Grace Ormsby

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