Fair Work Amendment (Contractor High Income Threshold) Regulations 2024 (Cth)

Fair Work Amendment (Contractor High Income Threshold) Regulations 2024

I, the Honourable Sam Mostyn AC, Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.

Dated 15 August 2024

Sam Mostyn AC

Governor‑General

By Her Excellency’s Command

Murray Watt

Minister for Employment and Workplace Relations

Contents

1Name

This instrument is the Fair Work Amendment (Contractor High Income Threshold) Regulations 2024.

2Commencement

1. (1)

   Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information
Column 1	Column 2	Column 3
Provisions	Commencement	Date/Details
1. The whole of this instrument	The later of: (a) the start of the day after this instrument is registered; and (b) immediately after the commencement of Schedule 1 to the Fair Work Legislation Amendment (Closing Loopholes) Regulations 2024.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

1. (2)

   Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3Authority

This instrument is made under the Fair Work Act 2009.

4Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1Contractor high income threshold

Fair Work Regulations 2009

1

Before Subdivision C of Division 3A of Part 1‑2

Insert:

Subdivision A—General

1.08AAMeaning of contractor high income threshold

1. (1)

   For the purposes of subsection 15C(1) of the Act, this regulation:

   1. (a)

      prescribes the amount of the contractor high income threshold for the year starting on 1 July 2024; and

   2. (b)

      sets out the manner in which the contractor high income threshold is to be worked out for a later year starting on 1 July.

Amount for year starting on 1 July 2024

1. (2)

   The amount for the year starting on 1 July 2024 is $175,000.

Amount for a later year

1. (3)

   The amount for the year starting on 1 July 2025, or a later year starting on 1 July, is:

   1. (a)

      for the year starting on 1 July 2025—the amount for the year starting on 1 July 2024, indexed using the following method statement; or

   2. (b)

      for a later year—the amount worked out under this subregulation for the previous year, indexed using the following method statement.

Method statement

Step 1. Identify the assessment of current average weekly ordinary time earnings published by the Australian Statistician and in effect on 1 July in the current year.

1. Note:

   This is the amount of the average weekly ordinary time earnings, seasonally adjusted, for full‑time adult employees of all employers in Australia for that day.

Step 2. Divide it by the assessment of current average weekly ordinary time earnings published by the Australian Statistician and in effect on 1 July of the previous year.

1. Note:

   This is the amount of the average weekly ordinary time earnings, seasonally adjusted, for full‑time adult employees of all employers in Australia for that day.

Step 3. Round the result to 3 decimal places. If the fourth decimal place is 5 or above, round it up.

If the rounded result is less than 1, the rounded result becomes 1.

Multiply the amount referred to in paragraph (a) or (b) (as the case may be) for the previous year by the rounded result.

If the result is not a multiple of $100, round the result to the nearest multiple of $100. If the result is a multiple of $50, round it up to the next multiple of $100.

The result is the amount for the year.

2

Regulation 2.13 (notes)

Omit “of all employees” (wherever occurring), substitute “of all employers”.