Sorry I'm a serial stalker of threads and don't often post but wanted to say, please ring FairWork Australia (or whatever they're called now!) and get some advise. They would know whether he is taking you for a ride or not.... I'm not sure which state you are in, but website is http://www.fwa.gov.au/.
there are lots of dodgy employers out there who try and take advantage of people....they get away with it alot because people are unsure of their rights and feel intimidated. Give FairWork a call!