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.
(For the 2014/2015 year, and for the 2015/2016 year, the federal government places up to $500 of tax-free super money into your super fund when you make a $1,000 after-tax contribution. See the SuperGuide article Cashing in on the co-contribution rules (2015/2016 year) .ach type of super contribution is subject to a contributions cap. A contributions cap sets a limit on the amount of contributions you can make in any one year. This article explains all of the important rules that apply to concessional contributions.