3 ms·

I used to believe in the law of supply and demand when applied to labour. Since coming to Australia, where the minimum wage is $14 and change (it varies by regi

I used to believe in the law of supply and demand when applied to labour. Since coming to Australia, where the minimum wage is $14 and change (it varies by region . . . I am not an expert), however, my opinion has changed somewhat. Fast food is a bit more expensive, though not as much as you might expect. The difference, however, is that the minimum wage teenagers are generally working their asses off and earning their pay. At an equivalent place in the U.S. or Canada, the places seem to have 3 or 4 people standing around scratching themselves for every one that is sort of working. I can't offer any deep analysis, but perhaps, with higher wages, employers are more careful with their hiring decisions and with their use of labour (or perhaps, they can simply attract better workers). Perhaps, also, the workers value their jobs more as the jobs are literally worth more.

NamTaf 14y ago
It's actually $15.96 an hour / $606.40 a week for an adult employee (with younger people earning proportionally less)[1]. Also, it's worth noting that now the first $18,200 of income (58% if you earn minimum wage for 52 weeks) is tax-free - that is, tax will be withheld on the basis of your estimated yearly income but then returned to you at mid-year when you file your tax return. The tax rate above the tax-free threshold is then 19% [2]. So if you earned absolute minimum wage for 52 weeks a year, you'd net a total of $28,999.57 - essentially, $29,000 after tax. This does not include any further tax breaks you may receive for being a low-income earner. There's then various social safety nets if you are minimum wage and supporting a dependent (child, disabled family member, etc.) which stack on top of that and/or give tax breaks, but I'm not really familiar with them so can't elaborate much further there. [1] http://www.fairwork.gov.au/pay/national-minimum-wage/pages/default.aspx http://www.fairwork.gov.au/pay/national-minimum-wage/pages/d... [2] http://www.ato.gov.au/individuals/content.aspx?doc=/content/12333.htm http://www.ato.gov.au/individuals/content.aspx?doc=/content/...

NamTaf 14y ago

It's actually $15.96 an hour / $606.40 a week for an adult employee (with younger people earning proportionally less)[1]. Also, it's worth noting that now the first $18,200 of income (58% if you earn minimum wage for 52 weeks) is tax-free - that is, tax will be withheld on the basis of your estimated yearly income but then returned to you at mid-year when you file your tax return. The tax rate above the tax-free threshold is then 19% [2]. So if you earned absolute minimum wage for 52 weeks a year, you'd net a total of $28,999.57 - essentially, $29,000 after tax. This does not include any further tax breaks you may receive for being a low-income earner. There's then various social safety nets if you are minimum wage and supporting a dependent (child, disabled family member, etc.) which stack on top of that and/or give tax breaks, but I'm not really familiar with them so can't elaborate much further there. [1] http://www.fairwork.gov.au/pay/national-minimum-wage/pages/default.aspx http://www.fairwork.gov.au/pay/national-minimum-wage/pages/d... [2] http://www.ato.gov.au/individuals/content.aspx?doc=/content/12333.htm http://www.ato.gov.au/individuals/content.aspx?doc=/content/...