Minimum Wage Increase from July 1
On 2 June 2023, the Fair Work Commission handed down its Annual Minimum Wage Decision for the 2023/24FY, and in doing so increased the modern award minimum wage by 5.75%.
The Fair Work Commission also announced a 5.75% increase to the National Minimum Wage and a realignment of the National Minimum Wage with the C13 award rate. This means that for some of the lowest paid employees, they will receive an effective increase of 8.6%.
Members are reminded that the wage increases will operate from 1 July 2023.
Please note that the minimum superannuation guarantee percentage will also increase from 10.5% to 11% on 1 July 2023.
Updated minimum wage guides will be made available to HRIA members on 1 July 2023 to reflect the minimum wage increase applying from the first pay period on or after 1 July 2023 to 30 June 2024.
If you have a registered workplace agreement, you will need to ensure its base rates of pay do not drop below the relevant base rates of pay contained in the underpinning award(s). Additionally if it contains an increase that aligns with the National Minimum Wage increase or an increase that is separate to the Fair Work Commission’s minimum wage decision, it will need to be applied.
If you have any questions in relation to this increase or would like to speak to a specialised employment lawyer at MST Lawyers, please contact HRNet on 1800 474 247 or hria@mst.com.au.
