Increases to minimum wage, superannuation and unfair dismissal cap
By admin
Published On 06/07/2017
Increases to minimum wage, superannuation and unfair dismissal cap
1 July 2017 brought a number of changes that directly affect employees and employers.
Following the Fair Work Commission’s decision on 6 June 2017, both the national minimum wage rate and the modern award minimum wage rates will increase by 3.3% from the first full pay period after 1 July 2017.
Whilst the superannuation guarantee remains at 9.5%, the maximum superannuation contribution base will increase from $51,620.00 to $52,760.00 per quarter.
The high-income threshold under the Fair Work Act 2009 increased to $142,000. This means that the maximum cap for unfair dismissal remedies (being 26 weeks’ pay) is now $71,000.
From 1 July 2017 | |
| National Minimum Wage | $694.90 per week, $18.29 per hour |
| Modern Award Minimum Rates | 3.3% increase |
| Superannuation Guarantee | 9.5% of ordinary time earnings (unchanged) |
| Maximum super contribution base | $52,760 per quarter |
| High-income threshold | $142,000 |
| Maximum compensation for unfair dismissal | $71,000 |
If you have any questions about employment law, please contact Adam Foster on (03) 9629 9629 or by email.
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