Payslips 🧾
They might be dull, but payslips are important.
For workers, they’re a checklist of how much you’re paid per hour, how many hours you worked in the pay period, how much super is owing, how much leave you have accrued and if you have any sick leave.
Watch the below video 👇 to see what should be included on your payslip (as set out by Fair Work).
TIP: Always keep every payslip you receive from any employer, past or present.
More things to know about your payslips…
When should I get my payslip?
At the very latest, you should get your payslip the next day after payday.
Sometimes you’ll get it just before it goes into your bank, or at the same time. (It can depend on your bank, how long after receiving your payslip you can withdraw money.)
How should I get it?
It can be via email, or an actual piece of paper (groan!) – maybe tell your boss if you have a preference.
What’s the difference between net and gross income?
Gross income is the amount you earn before the government takes out the tax. Net income is what you get in your pocket, after the tax on your wage has been taken out.
You can find tax rates on the ATO website here. If you’re on a low income (under $18k) you should not be paying any tax. If you’re earning over $18,201, you’ll be taxed at the lowest rate, which is 19 per cent.
How much super should I be paid?
Under the super guarantee, employers have to pay super contributions of 11% of an employee’s ordinary time earnings when an employee is:
- over 18 years, or
- under 18 years and works over 30 hours a week.
- Full time, part time or casual
From 1 July 2024, the super guarantee, that is – the percentage of your wage that your employer is required to pay into your super account, will increase from 11.0% to 11.5%. The super guarantee will continue to rise in 0.5% increments until it reaches 12% in 2025.
The super your employers pay to you should ALWAYS be displayed on your payslips.
Who is eligible for superannuation payments?
If you’re over 18, your employer must pay the super guarantee on the hours you have worked. If you’re under 18 and work more than 30 hours per week, you are also eligible for the super guarantee.
Where do I find my superannuation?
Typically, an employer with pay your Superannuation into a super account on your behalf with their selected provider. These providers typically differ between industries. However, are able to set up a Superannuation account of your choice. Or if you already have a pre existing Superannuation account, can you nominate for your new employer to pay any super you are entitled to into that exisiting account. This should be done when you are signing your contract and completing your information for their records.
TIP: You are able to login to your MyGov account and link the ATO’s services to your account. That way, through the MyGov ATO services you can see your total super balance and if you have more than one account open.
What if I’m a casual?
Part-time, full-time, casual – if you’re employed by someone other than yourself, you’re eligible for the super guarantee.
Helpful info about wage increases
- Every year, the Fair Work Commission reviews the National Minimum Wage and minimum rates of pay in modern Awards to decide if they should be increased.
- This process is called the Annual Wage Review or AWR for short.
- The AWR usually happens between March and June. Any changes generally come into effect on 1 July that year.
Award Wages
- Most employees over the age of 21 years old are covered by an Award.
- An award is a legal document that outlines the wages and conditions of employment for employees that are covered by it within a particular industry or occupation (such as Call Centres).
- Award pay rates can be changed by the AWR.
- Generally, award rates are increased by a percentage amount, rather than a dollar amount.
National Minimum Wage
- The National Minimum Wage applies to employees not covered by an Award or registered agreement.
- Workers under the age of 21 are paid Junior Pay Rates, which is a percentage of the National Minimum Wage
- As of 1 July 2023, the National Minimum Wage is $23.23 an hour.
- The National Minimum Wage is reviewed and generally increased each year as part of the AWR.
