Minimum Pay Rates
| National Minimum Wage (before statutory superannuation) | |
| 2013/2014 financial year | 2014/2015 financial year |
| $622.20 or $16.37 per hour | $640.90 or $16.87 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%, rounded to the nearest 10 cents.
The default casual loading is increased to 25%.
High Income Threshold
| High Income Threshold (before statutory superannuation) | |
| 2013/2014 financial year | 2014/2015 financial year |
| $129,300 | $133,000 |
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 Contributions Base
The earnings base upon which statutory superannuation contributions are calculated is subject to a maximum amount known as the Maximum Contributions Base.
| 2013/2014 financial year | 2014/2015 financial year |
| $48,040 per quarter or $192,160 per annum | $49, 430 per quarter or $197,720 per annum |
And don't forget the statutory superannuation contribution increases from 9.25% to 9.5% effective 1 July 2014.
Tax free threshold for "genuine redundancy" payments
| 2013/2014 financial year | 2014/2015 financial year |
| First $9,246 tax free; and $4,624 tax free for each completed year of service | First $9,514 tax free; and $4,758 tax free for each completed year of service |
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