A highly developed, high-income country, Australia, has the world’s 13th biggest economy. It ranks at the 8th position in human development and 10th in the world per capita income. An abundance of natural resources and robust international trade forms the backbone of the Australian economy.
Canberra, Melbourne, Sydney
Digital Transformation Skills, IT industry, Technical Specialists
The top local universities in Australia are as follows:
Australia : 1
World : 54
Australia : 2
World : 56
Australia : 3
World : 65
Australia : 4
World : 67
Australia : 5
World : 76
Some of the top jobs in Australia and their annual salaries are listed below:
|Job Title||Average Salary (AUD)||Average Salary (USD)|
|Customer Service Manager||10,800||7,254.36|
|Human Resource Officer||4,510||3,029.37|
Seek, Indeed, Jobsearch.gov.au
Employees are paid bi-weekly (every second week), bi-monthly (15th and 30th), or monthly (28th to 30th).
The minimum wage is 21.38 AUD per hour from July 2022.
On a general note, for overtime on weekdays, the pay is 1.5 times the regular pay for the first 3 hours of overtime and, after that, twice the regular pay. On Sundays, the payment is twice the rate of regular pay. These vary depending on the industries and states.
It is not mandatory to have 13th month pay in Australia.
Superannuation Guarantee Percentage – 10.5% (till 2023 July)
An entity will be exempt from payroll tax obligations if it has a quantum of wages that falls beneath the identified number.
Employees have to pay the medicare levy at 2%.
|Taxable income||Tax(AUD)||Tax % on Excess|
|0 – 18,200||–||0%|
|18,200 – 45,000||–||19%|
|45,000 – 120,000||5,092||32.5%|
|120,000 – 180,000||29,467||37%|
|180,000 – onward||51,667||45%|
Australia has GST instead of VAT. The Standard rate is 10%.
An employee can resign or be terminated by the employer. The major grounds for termination include:
Notice period varies depending on the length of employment. During the probationary period, it is from 7 – 30 days, and for permanent employees, it ranges from one to twelve weeks.
An employee’s job might be affected by redundancy and the redundancy/severance pay for different employment terms in Australia are as follows:
*Note, there is a decrease in redundancy pay from 16 weeks to 12 weeks for employees with above 10 years of continuous employment service.
Foreign nationals looking to work in Australia need to apply for a visa. Application is taken in through the various immigration programs administered by the Department of Home Affairs (DHA) of Australia.
The Temporary Skills Short visa (subclass 482) can be utilized by businesses to meet skill shortages by hiring foreign nationals to live and work in Australia for 2 years – or up to 4 years in some circumstances – where a suitably skilled Australian cannot be engaged.