If it sounds too good to be true...

Plutus Payroll Logo

The discussion at http://forums.whirlpool.net.au/archive/2335935 is a long but gripping exchange between forum users about Plutus Payroll, the vehicle for the alleged tax fraud of $165m reported on all of last week (and for weeks to come!). Like reading a novel where you know how it is going to tragically end, the forum starts with some users questioning the credentials of the no-fee payroll manager, but the overwhelming, early responders - including staff - jumping to its defence as a 'disruptor' in the payroll space! And as the train rushes in the night towards the cliff, the story unfolds; and doubters, asking how can it be so good and yet free, are put in their box for being cynical.

And then things start going wrong.

Pays are missed, taxes are missing, calls aren't returned... After the collapse of Plutus in early May, where wages, PAYG and super were not being received, the users continue to ask what went wrong. And then the story gets really complicated, and is currently before the courts.

So putting all payroll providers under this stink cloud is really bad for the industry, because most of them are legit services providing highly efficient means of managing payroll. We love the ones we use... But caveat emptor... Ask questions, get referrals, and check with professionals in the space.

And so if it's too good to be true.. it probably is.


Hat-tip to Mary Solomon for finding this terrific read on Whirlpool. [For those who don't know, Whirlpool is an Australian forum for people to promote, complain and seek help about things telecommunication and computers. (It has over 700,000 registered users, and has been around since 1998. https://en.wikipedia.org/wiki/Whirlpool_(website))]