Minimum Wage Decision
Effective from 1 July 2011 the minimum wage has been set at $589.30 for a 38 week.
Detailed information can be found at www.fwa.gov.au and by going to the annual wage review.
Super Contributions
The maximum that can be contributed to superannuation for an individual
(both employer and sacrificed pre tax) and receive concessional tax treatment at 15% for 2011/12 is as follows:
Under 50 years of age $25,000 - tax on excess = 46.5%
Over 50 years of age - $50,000 - tax on excess = 46.5%
Maximum Super Contribution Base
For 2011/12 the maximum quarterly contributions base will be $43,820 which equates to $3,943.80 - 9% SG.
2011-12 PAYG Schedules & Allowances
Information for these can be found on the Resources tab under Forms on the Symarco website.
2011-12 Flood Levy
Will be incorporated in the PAYG schedules for wages and any lump sum terminations.
Up to $50,000 - nil
$50K-$100K - 0.5% on excess above $50K
$100,001 plus - $250 plus 1% on excess above $100K
For more information download the Statement of formulas for calculating the flood levy component.
Paid Parental Leave
From 1 July 2011 employers are responsible to provide PPL to all qualifying employees.
For more information download the PPL Toolkit.
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