This start of the financial year, has bought in several changes to tax, super and wages. Which will impact the payment to your nanny and domestic staff.
Superannuation Increase to 11.5%
Starting from July 1st, 2024, the superannuation guarantee rate will increase to 11.5%.
In addition, the ATO is starting to chase up and fine employers paying super contributions late.
If you don’t pay your super contribution in time, the best option is to pay via directly to the ATO using the SGC Statement form
The exemption for domestic staff working 30 hours or less remains in place.
Minimum Wage & Award Increase
There has been an increase in the minimum wage and Miscellaneous Award rates.
In all states except Western Australia for a nanny or au pair over 21 year old, on Level 2 (working in the day Monday to Friday) under the Miscellaneous Award the minimum rates are as follows:
Permanent employee – $24.98 per hour
Casual employee – $31.23 per hour
In Westen Australia, the minimum rates are:
Permanent employee – $24.17 per hour
Casual employee – $29.01 per hour
Mileage rate
The ATO cents motor vehicle per kilometer rate increases from 85 cents to 88 cents
Wage Finalisation Deadline
Please note that all wage finalisations reports must be completed by July 14th, 2024. This includes ensuring all wages and superannuation contributions are accurately recorded and reported via STP.
As well as the tax and super due for lodgement and payment for the April to June quarter.
Stage 3 tax cuts start 1-7-2024
Most staff should see a slight increase in their pay packet as the tax rates are reduced.
