Don’t forget to increase wages for applicable employees
More then 1.8 million employees earning the minimum wage can expect an extra 2.4% from their next pay period after the national minimum pay rates were raised on 1 July 2016.
The minimum wage has been lifted by the Fair Work Commission from $17.29 to $17.70 an hour, providing a total wage of $672.70 a week (previously $656.90).
This is a loss for employers who already struggle to pay wages, however the Australian Council of Trade Unions (ACTU) had opted for the increase to be to $18.07 per hour.
This wage increase is applicable for full time, part time and casual employees, however the increase is only for employees who are paid the national minimum wage, a modern award, or in some cases a registered agreement.
The pay guides don’t apply to employees that are already paid above the minimum wage, or when an employee is covered by a businesses registered agreement.
If you are concerned about the recent changes, you can view the Fair Work pay guide here, Pay Calculator here, or contact TCC Accounting Services today.