Compulsory Super to Rise to 10 per cent.

From 1st July 2021 most employers will increase their contribution to their employees compulsory superannuation from 9.5% to 10%.

This is an extra $5 per week for someone on $1,000 per week, going into their retirement fund.

However, not all employees are happy with that money going into their super … Read the rest

Median Personal Income in Australia 2011-2018

Australian Annual Personal Median Income.

The Median personal income in Australia during 2017-18 was $49,805 per year.

In 2017-18 the Australian Capital Territory had the highest median income at $64,332 per year.
Tasmania had the lowest median income at $45,546 per year.

Median Income of Employees 2017-18:

(This covers employees Read the rest

Salary or Wages Earners Average Income 2017-18

Salary or Wages Earners Average Income 2017-18.

The ATO shows there were 11,231,834 salary and wage earners in the 2017-18 tax year.

Their total salaries and wages came to an average of $61,451, with 50% earning over $51,126 in the year.

The Median income was 83.20% of the average income … Read the rest

Australian Backpacker Tax 2020

The Australian Backpacker Tax has been clarified as valid.

In October 2019 the Federal Court ruled that a tax on working holiday visa holders was invalid, and an estimated 75,000 backpackers were told they might receive refunds from the Australian tax office (AT) for overpaid tax.

However, the ATO appealed … Read the rest

Minimum Wage in Australia

Australia has a National Minimum Wage.

Australia has had a national Minimum wage since 1906.

Australian Minimum Wage Rates have been:

  • 2021 Australian Minimum Wage rate … To be advised.
  • 2020 Australian Minimum Wage rate was $19.84 per hour or $753.8 per week,  to begin between July 2020 and February
Read the rest