What is the hourly and annual minimum wage for Sydney?

Question

is $16/hour below or above minimum wage?

is $30,000 + superannuation significantly below mean salary?

what is supperannuation? (is it $30,000*15% saved under your name to some sort of investement vehicle/organization?)

Answer 1

You can check NSW minimum pay rates at:

http://www.industrialrelations.nsw.gov.a...

As an example, the minimum weekly rate for a Shop assistant went up from $562.80 to $582.80 in 2007.

A quote made on June 8, 2007, by The Unions New South Wales Secretary, John Robertson, says workers on the awards will now be paid the highest minimum wage in Australia.

In February 2008 the average Full-time adult ordinary time earnings was $1,123.30 pw whilst average full-time adult total earnings was $1,173.50 pw  (inc overtime).

Tax rates from July 1 2008 are:

$0 – $6,000 =  Nil

$6,001 – $34,000 =  15c for each $1 over $6,000

$34,001 – $80,000 =  $4,200 plus 30c for each $1 over $30,000

$80,001 – $180,000 =  $18,000 plus 40c for each $1 over $75,000

Over $180,000 =  $58,000 plus 45c for each $1 over $150,000

plus medicare of 1.5% (subject to variations)

Answer 2

Those figures sound about right for the minimum wage. Your interpretation of superannuation is is also right, however the average percentage for the minimum wage is around 9%

Answer 3

The current Federal Fair Minimum Wage for full time adult workers is $13.74 per hour. This equates to $27507.48 per year. I understand that NSW does not have a separate minimum wage so the Federal FMW woill apply.

Casual workers receive an additional amount (usually around 15%) to compensate them for not receiving sick and holiday pay, long service leave and other benefits.

Compulsory superannuation is calculated as 9% of your actual gross wage and is paid into your personal account with a superannuation fund.

Employers and employees may also pay additional amounts into superannuation. If  your employer pays additional superannuation into your fund, the super amount is taxed at 15% instead of your marginal rate of tax (which is higher than 15%). If your employer is paying 15% superannuation, that will be the compulsory 9% plus an additional 6%.

The accumulated money is invested by the fund and increases in value are paid into your superannuation account less management fees. You can only access your superannuation savings once you retire after the age of 55. There is provision for early withdrawal in some extreme circumstances, but it is unusual for it to be allowed.

Answer 4

6.50 and hour is minimum