Updated Award rates, minimum wage and other changes effective 1/7/18

Here are some useful numbers for you and your HR team, all effective 1/7/18:

  1. Minimum wage – $719.20 per week (3.5% increase) – $18.93 per hour; $37,399 pa
  2. Modern Award pay rates   all increased by 3.5%
  3. Unfair dismissal threshold – $145,400 (maximum payout is $72,700) – does not include super
  4. Maximum salary employers have to pay super on – $216,120 ($54,030 per quarter)
  5. Tax-free component for Eligible Termination payments – $10,399 plus $5,200 for each year of completed service
  6. Super guarantee – still 9.5%, no change scheduled until 1/7/21 (then .5% yearly increase to 12% from 1/7/2025)
  7. Payroll Tax – 5.45% tax kicks in on amounts above $850,000 pa