🇦🇺Australia
WorkCover Premium Under-Declaration
2 verified sources
Definition
Mobile installers' overtime and travel not captured leads to audit adjustments.
Key Findings
- Financial Impact: AUD 1.85-5% of wages as premium (VIC/NSW avg); audit recovery +20-50% uplift
- Frequency: Annual declarations, state-specific
- Root Cause: Paper timesheets and manual wage aggregation
Why This Matters
The Pitch: Furniture installers in Australia 🇦🇺 overpay AUD 5,000+ yearly in adjusted WorkCover. Automated timesheets ensure accurate declarations.
Affected Stakeholders
Owners, HR/Payroll
Deep Analysis (Premium)
Financial Impact
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Current Workarounds
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Methodology & Sources
Data collected via OSINT from regulatory filings, industry audits, and verified case studies.
Related Business Risks
Fair Work Act Penalty Units
AUD 66,600 per serious contravention (630 penalty units at AUD 105.83/unit from July 2024); typical SME fine AUD 10,000-50,000
Superannuation Guarantee Shortfall Charge
SG Charge: Base amount unpaid + interest + admin fee (AUD 20 min); e.g., AUD 1,150 SG on AUD 10,000 wages incurs AUD 200+ extra
ACCC Consumer Guarantee Refunds
AUD 500-2,000 per claim (refund + labour); industry 2-5% service revenue in rework costs
GST/BAS Lodgement Delays
60-90 AR days industry avg; 1-2% revenue as opportunity cost (10% p.a. cost of capital)
Bußgelder wegen Verstoß gegen australisches Verbraucherkreditrecht (NCCP/ASIC)
Logic‑based estimate: expected compliance risk cost of ~AUD 80,000–190,000 per year per mid‑size retailer, based on a likely ASIC‑style enforcement event of AUD 400,000–950,000 (penalty, remediation, and professional fees) every 5 years linked to non‑compliant consumer finance application processes.
Cost of Poor Quality
Quantified: AUD 5,000-20,000 per rework incident (industry standard 2-5% of order value for custom pieces averaging AUD 10,000)
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