A number of employment related financial thresholds are indexed annually. Below is a summary of some important changes effective 1 July 2013.
National Minimum Wage (Before Statutory Superannuation)
| 2013/2013 financial year | 2013/2014 financial year |
| AUD606.40 per week, or AUD15.96 per hour | AUD622.20 per week, or AUD16.37 per hour |
The national minimum wage is the weekly/hourly rate for non-award covered employees. Please refer to the relevant Modern Award for applicable minimum wages for Award covered employees.
High Income Threshold for Unfair Dismissal Applications and Guarantees of Annual Earnings (Before Statutory Superannuation)
| 2013/2013 financial year | 2013/2014 financial year |
| AUD123,300 | AUD129,300 |
Where an employer can guarantee that an employee will earn more than the high income threshold, the employer and employee may enter into a Guarantee of Annual Earnings excluding the employee from Award coverage.
Maximum Compensation for Unfair Dismissal Applications
| 2013/2013 financial year | 2013/2014 financial year |
| AUD61,650 | AUD64,650 |
Annual Superannuation Guarantee Contribution Rate Increases
| Financial year | Superannuation Guarantee Charge (SGC) rate |
| 2013/2014 | 9.25% |
| 2014/2015 | 9.50% |
| 2015/2016 | 10.00% |
| 2016/2017 | 10.50% |
| 2017/2018 | 11.00% |
| 2018/2019 | 11.50% |
| 2019/2020 | 12.00% |
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
