Minimum award rates increase 3% from 1 July
Every year the Fair Work Commission reviews the minimum wages within Modern Awards. Following the recent review, the Fair Work Commission has announced that the national minimum wage rate will increase by 3 percent, effective as of the 1st of July 2014.
What does this means for employers?
• The Modern Awards minimum rates of pay will need to be updated to reflect the increase. Any employees who are paid the minimum award rate will need to be updated by the 1st of July 2014.
• The 3% increase also applies to other award elements such as meal allowances and holiday leave loading.
• Employers will need to review the Minimum Wages and Related Matters clause within their employees Modern Award in order to ensure compliance by the 1st of July 2014.
Feel free to call us on (02) 8882 9694 to review your rates of pay to ensure compliance when the changes come into effect.