Changes to minimum wage, high income threshold and superannuation 3 min read
The minimum wage, high income threshold and superannuation guarantee rate are all set to increase on 1 July 2021.
From 1 July 2021, the general federal minimum wage (for employees not covered by an award) will be increased to $772.60 per week ($20.33 per hour).
The Fair Work Commission has ordered increases to minimum wages for employees covered by awards as follows:
- Effective 1 July 2021: The pay rates in all awards, except those set out below, will be increased by 2.5%.
- Effective 1 September 2021: The pay rates in the General Retail Industry Award 2020 will be increased by 2.5%.
- Effective 1 November 2021: The pay rates in the awards set out below will be increased by 2.5%:
- Air Pilots Award 2020
- Aircraft Cabin Crew Award 2020
- Airline Operations – Ground Staff Award 2020
- Airport Employees Award 2020
- Airservices Australia Enterprise Award 2016
- Alpine Resorts Award 2020
- Amusement, Events and Recreation Award 2020
- Dry Cleaning and Laundry Industry Award 2020
- Fitness Industry Award 2020
- Hair and Beauty Industry Award 2010
- Hospitality Industry (General) Award 2020
- Live Performance Award 2020
- Mannequins and Models Award 2020
- Marine Tourism and Charter Vessels Award 2020
- Nursery Award 2020
- Racing Clubs Events Award 2020
- Racing Industry Ground Maintenance Award 2020
- Registered and Licensed Clubs Award 2020
- Restaurant Industry Award 2020
- Sporting Organisations Award 2020
- Travelling Shows Award 2020
- Wine Industry Award 2020.
On 1 July 2021, the high income threshold will increase from $153,600 to $158,500. The compensation cap for unfair dismissal claims will also be increased from $76,800 to $79,250.
The superannuation guarantee contribution rate will increase from 9.5% to 10% on 1 July 2021.