Wages, 1960-1969. Federal Minimum Wage. Chart from the U.S. Dept of Labor shows the first federal minimum wage law enacted in 1938 (25 cents), and all subsequent increases through 2009. States could enact minimum wage laws as well, if they wished to have a higher minimum than that specified by the federal government.hart from the U.S. Dept of Labor shows the first federal minimum wage law enacted in 1938 (25 cents), and all subsequent increases through 2009. States could enact minimum wage laws as well, if they wished to have a higher minimum than that specified by the federal government.
The deal is that you increase your superannuation balance (and pay 15% contributions tax, and for those earning an adjusted taxable income of more than $300,000, 30% tax on super contributions) while reducing the amount of income tax payable (up to 49% including Medicare levy) on your salary or wages.
Note: The employer superannuation contributions of some employees who receive a cash (and superable) salary that is higher than the maximum salary for the superannuation guarantee charge (known as the maximum contribution base or MCB) are not determined by a percentage of cash (and superable) salary.uperannuation on-cost percentage. The employer superannuation on-cost is a major determining factor as to whether a former SO executive would experience financial disadvantage as a PSSE.