The Fair Work Commission has handed down its decision concerning minimum wage increases.
From 1 July 2023, wages will increase as follows:
- The minimum wage for award-free employees will be $23.23 per hour or $882.80 per week (an increase of $70.20 or 5.75%).
- Minimum award rates for award-covered employees will also increase by 5.75%.
The new National Minimum Wage will apply from the first full pay period starting on or after 1 July 2023. This means if your weekly pay period starts on Monday, the new rates will apply from Monday, 3 July 2023.
What you need to do:
It’s time to update your pay practices – and don’t forget to check employees on annualised salaries. With such a large award increase, annualised salaries may no longer cover award entitlements.
Also, when considering salary reviews for your employees, you will need to consider the employee super payments increasing from 10.5% to 11% from 1 July 2023.
We are here to help:
Please contact us if you need any assistance with this.
Manager, Client Care Team