Updated Award rates, minimum wage and other changes effective 1/7/19

Here are some useful numbers for you and your HR team, all effective 1/7/19:

  1. Minimum wage – $740.80 per week (3.% increase) – $19.49 per hour ($24.36 casual); $38,521 pa
  2. Modern Award pay rates   all increased by 3%
  3. Unfair dismissal threshold – $148,700 (maximum payout is $74,350) – does not include super
  4. Maximum salary employers have to pay super on – $221,080 ($55,270 per quarter)
  5. Tax-free component for Eligible Termination payments – $10,638 plus $5,320 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 NSW – 5.45% tax kicks in on amounts above $900,000 pa