New National Minimum Wage
So I'm sure by now if you have been keeping an eye out for changes in the Employment Law space, you would have heard that the Expert Panel of the Fair Work Commission has made a decision to lift the National Minimum Wage for the upcoming financial year.
What does that mean for you, your employees or people that you know?
Here is a quick summary of the important facts:
- There will be a 3.5% increase to the National Minimum Wage in Australia.
- This equates to an increase of $24.30 per week to the weekly rate or 64c per hour to the hourly rate for those who are on minimum wage.
- This means the National Minimum Wage is set at $719.20 per week or $18.93 per hour.
Casual loading of 25% will continue to apply to award/agreement-free employees.
If you have any questions about this, please let us know.