National Minimum Wage/ Minimum Award Increase
By
Allyson Fletcher
Business Improvement Human Resources
The Fair Work Ombudsman announced last week the results of their recent review of the national minimum award rates.
From 1 July, or the first pay run after the 1 July, minimum rates will need to be increased by 3.75%.
This is less than the 5.00% that the AWMU wanted for all employees nationally.
With what seems to be a never-ending increase to costs for all businesses this year and following an increase of 5.75% approved by the Fair Work Ombudsman last year, as well as increases to superannuation guarantees with the next increase due in July this year, this may still have a significant impact for many businesses across the country, regardless of size.
The minimum rates wonโt need to be applied to any employees who are on salary and/or higher than the minimum rates.ย We would recommend, however, for you to conduct a payroll audit for anyone who is being paid higher than the minimum rates to ensure that all your team members remain covered.
If you would like to enquire on the costs for a payroll audit or for any further information, please contact our HR Team on 1300 4 ADVICE.
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