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.
1 You only pay 15% tax on super contributions from your employer (or member contributions for which a tax deduction is claimed) of up to $30,000 a year (this is called the concessional contributions cap).2  If youâre 50 or over, however, your cap is $35,000 a year.oney taken out of super. You can withdraw your super tax-free once youâve reached the age of 60 and can access your super. And you can even continue to work and access your super with a Transition to Retirement strategy. Watch our video about the tax benefits of superannuation.