Set out below are the main employment figures for the 2014/2015 financial year.
Employment
| Category | Amount |
| National Minimum Wage | $640.90/wk or $16.87/hr |
| High Income Threshold | $133,000 p.a |
| Unfair Dismissal Compensation Cap | $66,500 |
| Fair Work Act 2009 (Cth) Penalty Unit | $170 for individuals |
| (per unit) | $850 for corporations |
| Default Casual Loading | 25% |
Superannuation, Redundancy & Taxation
| Category | Amount |
| Compulsory Superannuation Amount* | 9.5% p.a |
| Max Superannuation Contribution Base / Qtr* | $49,430 |
| Redundancy Tax Free Threshold Calculations* | $9,514 + ($4,758 x completed years of service) |
| Employment Termination Payment (ETP)* | Lesser of either 32% (17% if achieved preservation age) or marginal rate |
| ETP Cap* | $185,000 |
| Whole of Income (WOI) Cap | $180,000 |
* Note: Theses figures may be subject to change as a result of proposed annual indexation amendments by the Federal Government and 2014 Federal Budget considerations. The Federal Government have also announced the "Deficit tax levy" (yet to be passed) thatwill temporarily apply a 2% levy to the taxable income of individuals earning over $180,000 pa.
Work Health & Safety Maximum Penalties (for primary obligations including workplace bullying under harmonised laws)
| Relevant Person | Category 1 - reckless as to risk of death or serious illness/injury | Category 2 - risk of death or serious illness/injury | Category 3 - failure to comply with health and safety duty |
| Body Corporate | $3,000,000 | $1,500,000 | $500,000 |
| PCBU (as individuals, including partners) and Officers | $600,000 and/or 5 years imprisoment |
$300,000 | $100,000 |
| Individuals | $300,000 and/or 5 years imprisonment |
$150,000 | $50,000 |
Should you have any questions or concerns in relation to these figures or their application to particular circumstances, please contact a member of the Employment Law Team below. Persons should seek external advice including taxation advice before relying on these figures for the purpose of any settlement offers as settlements should be tailored to each individual case.
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