Information about Australian Minimum wage and taxes.

The minimum wage in Australia is AU$20.33 per hour as of July 1, 2021. This wage is valid if a full-time worker works 38 hours per week. The minimum wage is reviewed annually by the Fair Work Commission, set by the Australian Government. The commission evaluates a variety of factors to determine a fair wage, taking into account the economic situation and ensuring that workers cover their living expenses. The tax system in Australia is organized based on income brackets. A certain part of the income is excluded from tax and the remaining part is taxed at different rates. Below are the tax brackets and rates for the 2021-2022 fiscal year: - Income from 0 to 18,200 AUD: Tax rate 0% - Income between 18,201 - 45,000 AUD: Tax rate 19% - Income between 45,001 - 120,000 AUD: Tax rate 32.5% - Income between 120,001 - 180,000 AUD: Tax rate 37% - Income of AUD 180,001 and above: Tax rate 45% A health insurance premium called Medicare levy is also paid. This premium varies depending on income and is typically applied at rates ranging from 2% to

2.5%. Minimum wage and tax rates cover all workers living in Australia. However, tax deductions may vary depending on a person's other income, working conditions, and other factors. It is therefore important that you seek help from a tax advisor or the Australian Taxation Office to obtain a full and accurate tax calculation.