Employment, IR & Workplace Safety News Alert: Fair Work Commission increases Minimum Wage by 2.5%
The Fair Work Commission last week announced a 2.5% increase to award wages and the national minimum wage.
From the first pay period on or after 1 July 2015, the new national minimum wage will be $656.90 per week, or $17.29 per hour. The increase will be reflected in each of the Modern Awards over the coming two to three weeks.
Why is this important for your business?
Employers should consider whether any of their employees are covered by a modern award, and if they are covered, carefully review rates of pay to ensure that the minimum rate of pay is being met.
Rates of pay also should be reviewed by employers covered by enterprise agreements to ensure that the rates of pay prescribed by the enterprise agreement are not less than the rates of pay prescribed by the relevant modern award.
Where no enterprise agreement or modern award applies, employers should ensure that they are paying employees at least at the rate of the minimum wage.
Failure to pay employees at or above the minimum rate of pay can result in significant sanctions. The employment team at TressCox Lawyers can assist you with questions about award coverage, the minimum wage increase, and how it the minimum wage applies to your business.
Peta Tumpey, Partner
Keely Horan, Associate