Minimum wage increase from 1 July 2017

Minimum wage increase from 1 July 2017


The Fair Work Commission (FWC) has announced a 3.3 per cent increase in minimum wages starting from 1 July 2017.

The new national minimum wage will be $694.90 per week or $18.29 per hour.

The increase applies to employees that get their pay rates from the national minimum wage or a modern award. The national minimum wage applies to employees who are not covered by an award or agreement.

Award rates will increase by 3.3 per cent. The increase doesn’t affect employees who are getting paid more than the new minimum wage.

Certain penalty rates in some hospitality and retail awards will change from 1 July 2017.

The changes to public holiday rates will apply in full from 1 July 2017. The changes to evening work and after midnight penalties will commence from 1 July 2017.

Changes to Sunday penalty rates are being phased in over three or four years starting from 1 July 2017, depending on the award and employment type.

There are no changes to Sunday rates in the Restaurant Award.

Categories

If you believe the matters discussed above are relevant to your business, please contact Darren Smith of our office to discuss further.


Darren is a Chartered Accountant with extensive experience, including working in the big 4 and medium sized firms before becoming a partner of a city based firm in 2000.

He has gained much experience and has extensive knowledge in providing business and taxation advice, superannuation planning, negotiation of sales and acquisitions of businesses and property development. His client base covers a wide range of industry groups.

Darren works with business owners to grow their businesses and create personal wealth within and outside of their business.


+ There are no comments

Add yours