Medicare Levy and Wage Changes for 2014/2015

Those employees earning a contracted wage, inclusive of superannuation, will find that their take-home pay is reduced from 1 July 2014.

This is because the medicare levy has gone up from 1.5% to 2.0%, which is to pay for the National Disability Insurance Scheme. The Superannuation Guarantee has also gone up from 9.25% to 9.5%.

Any employee who earns a salary plus super will not be affected by the Superannuation Guarantee change in their take home wage.