Get ready for a 3% minimum wage increase next week
The Fair Work Commission recently announced its decision to increase minimum wages by 3%.
The new national minimum wage, which will take effect after this weekend on 1 July, will be $740.80 per week or $19.49 per hour. This is an increase of $21.60 per week up from the current $719.20 ($18.93 per hour).
The increase applies to all employees who get their pay rates from the national minimum wage (not covered by an award) or from a modern award.
This year’s increase is slightly lower than was awarded last year, with the Commission attributing this to changes in the economic environment being a recent fall in GDP growth and drop in inflation.
Acknowledging the lower increase, FWC President Iain Ross said the Commission is “satisfied that the level of increase we have decided upon will not lead to any adverse inflationary outcome and nor will it have any measurable negative impact on employment.”
All employers should be sure to review their pay rates to ensure they are compliant. Even employers paying above-award rates or those who have enterprise agreements in place should be careful to ensure they continue to comply.
If you’re concerned that your business might not be complying with its obligations, call our office today on 07 5444 1022 to organise an obligation-free compliance audit.
By Harry McDonald
Harry McDonald is a solicitor admitted to practice in the Supreme Court of Queensland, practising in the Commercial and Property Law team at Greenhalgh Pickard Solicitors. Within commercial law, Harry has a keen interest in employment law and enjoys assisting commercial clients in all areas of their employment & industrial relations with experience in employment contracts, sub-contractor agreements, restraint clauses, unfair dismissals, general protections, workplace policies and guidelines and general HR advice.