Increase in the Minimum Wage 2016

The Fair Work Commission has announced a 2.4% increase to minimum wages. The increase will apply from the first full pay period starting on or after 1 July 2016. The new national minimum wage will be $672.70 per week or $17.70 per hour – this is the rate that Parental Leave Payments are based on.

Federal Budget – Proposed changes to Superannuation – 2016/17

Cuts to Concessional Contributions Caps The current concessional cap is $30,000 for aged 49 and below and $35,000 for 50 years and above.  From 1st July, 2017 the Government is proposing to decrease the concessional cap to $25,000 per year for all ages. The concessional cap is the total of all before taxed contributions paid […]

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