The Australian government recently announced an additional employer-paid public holiday on Thursday, 22 September 2022, for the mourning of the passing of Her Majesty Queen Elizabeth II of England.
The Australian Fair Work Commission (FWC) has increased the national minimum wage by 5.2%, effective 1 July 2022. Modern Award minimum wages also increased by 4.6% per week, effective from the first full pay period starting on or after 1 July 2022, or 1 October 2022, based on industry.
On 1 July 2021, the Australian government increased the superannuation guarantee contribution rate by 0.5% to 10% on earnings up to the new maximum contribution base of AUD 58,920 per quarter. The concessional contribution cap has also increased to AUD 27,500. The increases will help stimulate Australia’s post-pandemic economy and support a better retirement for eligible workers.
When no choice of a superannuation fund is made by a newly hired employee, employers or their tax agents are now mandated to source the name of their new employee’s existing superannuation fund from the Australian Taxation Office (ATO). The […]
The Australian Fair Work Commission (FWC) increased the national minimum wage by 2.5%, effective 1 July 2021. Modern award minimum wages also increased by 2.5% in three different stages depending on the industry. Modern award minimum wage increases will be […]
The Australian government passed the Paid Parental Leave Amendment (Flexibility Measures) Act 2020 in June 2020. This legislation provides parents with children born or adopted on or after 1 July 2020 more flexibility in how they take their paid parental […]
On 28 October 2019, the Australian parliament approved new legislation intended to end the current loophole that allows employers to use their employees’ salary sacrifice contributions to reduce their minimum compulsory Superannuation Guarantee (SG) contributions. The bill entered into effect […]
On 1 July 2019, the Australian government increased both the maximum superannuation contribution base and the high-income threshold. Key details Maximum superannuation contribution base Employers are required to make a contribution to the Superannuation Guarantee (SG) equal to 9.5% of […]
The Australian Fair Work Commission (FWC) increased the national minimum wage and modern award minimum wages by 3%, effective 1 July 2019. Background For the past few years, the government of Australia has been increasing the minimum wage to a […]
The Australian government passed legislation that aims to make private health insurance easier to understand and more affordable for consumers. The Private Health Insurance Legislation Amendment Act 2018 (the Act) received royal assent on 21 September 2018, and was followed […]