1 If your health insurance premiums are paid entirely by your employer or the government, you cannot deduct the cost. 2  If you have health insurance through your employer and your share of the premium is deducted from your paycheck pre-tax, you cannot deduct the cost because the premiums were tax-free already.
For example, an employee earning minimum wage and working a full 40 hours per week currently takes home a gross pay of $290 per week. In theory, a $1.75 minimum-wage hike would increase that employeeâs gross pay to $360 per week. However, thatâs only if that employee continues to work 40 hours per week, a scenario that will become increasingly less realistic under Obamacare, which gives employers a huge incentive to cut worker hours.
The Commission awarded all national system employees (excluding state government employees) a 3% increase on top of the minimum wage, effective from the first pay period commencing 1 July 2014. Currently the minimum wage for a full time employee aged 21 and over stands at $622.20 per week or $16.37 per hour. With the increase, the national minimum wage for a full time employee aged 21 and over will increase to $640.90 per week or $16.87 per hour. The increase applies to minimum entitlements only.