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.
If your earnings (assessable income, reportable fringe benefits and reportable employer super contributions) are less than $31,920 in the year you make a personal contribution, the Government will contribute 50 cents for every $1 you contribute up to a maximum of $500.mployers are required to contribute only up to a maximum of $16,470 per annum for the 2012/13 financial year (9% 2 of $183,000 known as the maximum contribution base). An employer is not required to make superannuation contributions for employees who earn less than $450 per month.