With effect from 1 July 2022, there will be rises to the the national minimum wage and employers' Superannuation Guarantee contributions as follows:
National minimum wage
In line with its election commitment, the Australian Labour Party has supported an increase to the national minimum wage and the Fair Work Commission has now confirmed that it will rise by 5.2%. The new rate of minimum wage will therefore be AUSD 21.38 per hour.
Superannuation Guarantee contributions
Employers' Superannuation Guarantee contributions will rise from the current 10% to 10.5%. The contribution is paid into individual super funds by employers to help employees grow their retirement savings.