Recently, the Minimum Wage Panel (“Panel”) has today handed down its ninth minimum wage decision which increased the National Minimum Wage, together with all Modern Award minimum rates of pay, by 3.5%.
From 1 July 2018, the National Minimum Wage will increase to $719.20 per week, or $18.93 per hour.
What this means for you:
- Employers who pay their employees at the National Minimum Wage or Modern Award rates of pay will need to apply the increase in the first full pay period commencing on or after 1 July 2018;
- Employers who currently pay above National Minimum Wage or Modern Award rates of pay are not obliged by this decision to increase their rates of pay, but need to ensure their rates remain at least as beneficial, once the increase is applied;
- and Employers who pay under enterprise agreements must ensure that the base rates in those agreements remain at least equal to the new minimum Modern Award rates.
If you require any assistance in updating your payroll software or employment agreements, please contact our office today for a chat.