Why some workers may be in for a wage shock from July 1
Some workers with salaries paid on an “including superannuation” basis may be in for a shock from July 1.
Many companies and corporations are planning using that remuneration structure to cover the increase in the superannuation guarantee.
It means while their superannuation will increase from 9.5 per cent to 10 per cent, it may mean their weekly take-home will go down.
“I don’t know if many people have thought about this,” Tom Elliott said.
Brendan Coates, Household Finances Program Director at the Grattan Institute, told Tom Elliott it would impact a significant number of people.
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