If you are an employer, please note the minimum wages have been revised in Australia with effect from 01 July 2022. The national minimum wage rate increased from $20.33 to $21.38 per hour and $772.60 to $812.44 per week.
Minimum Award Wage Increase
Awards are legal documents that outline the minimum pay rates and conditions of employment. If you’re not sure which award applies to you, use Find my award.
The FWC has announced that minimum award wages will increase by 4.6%, which is subject to a minimum increase for award classifications of $40 per week and based on a 38-hour week for a full-time employee.
This means minimum award wages:
- above $869.60 per week, will get a 4.6% increase
- below $869.60 per week, will get a $40 increase.
In addition to an increase in minimum wages, below are the changes to superannuation (super) with effect from 1 July.
- Removal of $450 super guarantee threshold – visit the Australian Taxation Office (ATO) website to learn more about this change: Removing the $450 per month threshold for super guarantee eligibility
- Increase in the super guarantee rate from 10% to 10.5% – visit the ATO website to learn more about this increase: Get ready for super changes from 1 July
For further information, please click on the below link.
https://www.fairwork.gov.au/newsroom/news/get-set-for-a-minimum-wage-increase
Please note if you are preparing a pay run by yourself please pay updated rates for your employees. If you need any help, please don’t hesitate to contact us.
