Fair Work Ombudsman
Citation: FWO-2022-05-06-centennial-wealth-litigation-media-release
At a glance
- Respondent
- Centennial Wealth Pty Ltd
- Penalty
- $4,000
- Employees affected
- 1
- Awards cited
- MA000076
What happened
The Fair Work Ombudsman commenced legal action against Centennial Wealth Pty Ltd and its sole director, Ms Nevenka Lovric. This followed a request for assistance from a former worker and an investigation into potential underpayment. A Fair Work Inspector issued a Compliance Notice in August 2021, concerning a former coordinator of property investor relations who worked between May 2019 and March 2020. The notice related to alleged underpayment of annualised salary entitlements and unpaid payment in lieu of notice and accrued annual leave. Centennial Wealth Pty Ltd has since entered external administration.
What was decided
Centennial Wealth Pty Ltd and Ms Lovric are facing court for allegedly failing to comply with a Compliance Notice. The Fair Work Ombudsman is seeking penalties and an order for Centennial Wealth Pty Ltd to rectify underpayments, including interest and superannuation. Ms Lovric was found to be involved in the contravention. The Federal Circuit and Family Court imposed a penalty of $4,000 on Ms Lovric for her involvement. The maximum penalties for failing to comply with a Compliance Notice are $33,300 for a company and $6,660 for an individual.
What it means for employers
Employers must comply with Compliance Notices issued by the Fair Work Ombudsman. Failure to do so can result in significant penalties. Businesses should ensure they are calculating and paying employee entitlements correctly, including annualised salaries, payment in lieu of notice, and accrued annual leave.
What it means for employees
Employees who believe they have been underpaid or are concerned about their entitlements should contact the Fair Work Ombudsman for free assistance. The Fair Work Ombudsman provides information and support to help employees understand their rights and resolve workplace issues.
Every statement above is drawn from the published decision. Read the original here:
https://www.fairwork.gov.au/newsroom/media-releases/2022-media-releases/may-2022/20220506-centennial-wealth-litigation-media-releaseWant more cases like this?
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This summary was drafted by AI from the published decision and reviewed before publishing. It is general information, not legal advice. For your specific situation, speak to the Fair Work Ombudsman (13 13 94) or a qualified lawyer. About these summaries & corrections →