From 1 July 2018, the national minimum wage and modern award rates will increase by 3.5%.
We have prepared a handy key threshold table to print out and keep close by for the 2018/19 financial year which outlines the key thresholds all employers should be aware of.
The changes will apply from the first full pay period starting on or after 1 July 2018.
What can you do to prepare your business for 1 July?
-
Review annualised salary arrangements to ensure that the annualised wage rate is sufficient to meet or exceed the employees' minimum award/minimum wage entitlements taking into account the 3.5% increases.
-
Update payroll systems and processes to ensure the increased wages are paid from the first full pay period starting on or after 1 July 2018.
-
Review enterprise agreement pay rates (where applicable) and ensure the pay rates do not fall below the applicable modern award base rate or the national minimum wage (as applicable).
