Minimum Pay Rates
| National Minimum Wage (before statutory superannuation) | |
|---|---|
| 2016/2017 financial year | 2017/2018 financial year |
| $672.70 or $17.70 per hour | $694.90 or $18.29 per hour |
Junior employees (those aged from 16 to 20) are entitled to a percentage of the minimum wage calculated on a sliding scale by reference to their age.
For modern award covered employees, minimum wages are increased by 3.33%, rounded to the nearest 10 cents.
The default casual loading is maintained at 25%.
High Income Threshold
| High Income Threshold (before statutory superannuation) | |
|---|---|
| 2016/2017 financial year | 2017/2018 financial year |
| $138,900 | $142,000 |
Award and enterprise agreement free employees who earn over the High Income Threshold aren't eligible to make a claim for unfair dismissal.
Statutory Superannuation - Maximum Contribution Base
The earnings base upon which statutory superannuation contribution are calculated is subject to a maximum amount known as the Maximum Contribution Base.
| 2016/2017 financial year | 2017/2018 financial year |
|---|---|
| $51,620 per quarter or $206,480 per annum | $52,760 per quarter or $211,040 per annum |
The statutory superannuation contribution remains at 9.5%
Tax free threshold for 'genuine redudancy' payments
| 2016/2017 financial year | 2017/2018 financial year |
|---|---|
| First $9,936 tax free; and $4,969 tax free for each completed year of service | First $10,155 tax free; and $5,078 tax free for each completed year of service |
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