National Minimum Wages Changes Explained

From 1 July 2024 the national minimum wage increases by 3.75% to $915.90 per week ($24.10 an hour).

That is a lower increase than in 2023, when it was 5.75%.

Minimum wages in modern awards increase by 3.75% from 1 July 2024. The increase also applies to modern enterprise award wages and State reference public sector awards.

The increase will apply from the first full pay period starting on or after 1 July 2024. This means if your weekly pay period starts on Wednesday, the new rates will apply from Wednesday 3 July 2024.

Employers should also be aware that the minimum superannuation guarantee contribution increases to 11.5% from 1 July 2024, and the Fair Work Information Statement will be updated from 1 July 2024.

Recommended Actions

Some recommended actions are to:

1. check wage increases for employees to ensure that wages are still compliant after 1 July 2024;
2. review annualised salaries for compliance;
3. check and ensure that superannuation contributions are still compliant after 1 July 2024; and
4. from 1 July 2024, use the updated Fair Work Information Statement.

More information about the increases and when they take effect is available here: www.fairwork.gov.au

At WorkLegal our experienced team can answer your questions and put you on the right track. A range of fixed-price Initial Consultations will suit most people’s needs in quickly learning what their options are.

Some?more information is available here?or you can?book online for an initial no-obligation chat?about reviewing an employment contract or contractor agreement.