Reminder: Increases to Minimum Wages, High Income Threshold and Superannuation Contribution Rate – Effective From 1 July 2023
Posted
Award wages and rates
The award wages increased by 5.75% from the first full pay period on or after 1 July 2023. Master Builders ACT has updated our wage sheet to reflect the increases. Members can access these wage sheets through the links below.
- Building and Construction General – Residential
- Building and Construction General – Non-Residential
- Joinery and Building Trades
- Clerks Private Sector
- Plumbing and Fire Sprinklers
High Income Threshold
On 1 July 2023, the high income threshold increased from $162,000 to $167,500. This means the employees who are not covered by a modern award/enterprise agreement and have annual earnings exceeding $167,500 are barred from making an unfair dismissal claim.
In determining whether an employee’s annual earning exceeds the high income threshold, the employer should include the employee’s wages and any agreed value of non-monetary benefits. Superannuation contributions and payments can’t be calculated in advance (e.g. commissions, bonuses, reimbursements) should not be included.
Superannuation Contributions
On 1 July 2023, the statutory superannuation contribution rate increased from 10.5% to 11%.
If you have any questions in relation to workplace relations, please contact our Workplace Relations and Legal team on (02) 6175 5900.
