Each financial year a number of key employment figures change. The following table sets out the key figures for this financial year as well as a summary of some of the key figures in employment law generally that affect our members.

 


WAGE INCREASE


Amount 1.75%
Electrical, Electronic and Communications Contracting Award 2010 Effective 1 November 2020
Clerks –  Private Sector Award 2020 Effective 1 November 2020

EMPLOYMENT


High Income Threshold $153,600 per annum
Unfair Dismissal Compensation Limit $76,800
Casual Loading 25%
National Minimum Wage Per week:    $753.80

Per hour:  $19.84

Fair Work Act 2009 (Cth) Penalty Unit $222

SUPERANNUATION


Compulsory Superannuation Contribution 9.5%
Maximum Superannuation Contribution Amount $57,090 per quarter

REDUNDANCY


Redundancy – Tax Free Threshold Calculations $10,989.00 + ($5,496.00 x completed years of service)

TAXATION


Employment Termination Cap $215,000
Whole of Income Cap $180,000

LONG SERVICE LEAVE – NSW, QLD & TAS


10 years of service 2 months = 8.67 weeks
Pro Rata Long Service Leave Contribution for 10 years of service [ordinary hours worked during period of service] ÷ 52 x 8.6667 ÷ 10 = [amount of long service hours]

[amount of long service hours] x [the employee’s ordinary hourly rate] = amount payable.

A further 5 years of service


1 month = 4.33 weeks


 

Disclaimer: This summary is a guide only and is not legal advice. For more information on legislative or contractual obligations, please contact CTI Lawyers on 1300 361 099 or email law.clerk@neca.asn.au