Minimum Wage Increase

Written by: Institute of Certified Bookkeepers

The Fair Work Commission has Announced a 2.5% Increase to Minimum Wages.

On 16th June 2021, the Fair Work Commission’s announced that the national minimum wage, and minimum wages set out in modern awards, will increase by 2.5%.

The increase applies to anyone who is paid minimum award wages or the national minimum wage, with the new national minimum wage will apply from 1st July 2021.

The wage increase takes effect from the first full pay run/period that starts on or after 1st July 2021.

Most employees are covered by an award but if employees are covered by a registered agreement, employers and employees need to check it to see whether this increase affects them. Also note, the increase doesn’t affect employees who already get paid more than their new minimum wage.

For anyone not covered by an award or an agreement, the new national minimum wage will be $772.60 per week or $20.33 per hour.

As per the Fair Work Commission’s announcement most awards will increase from 1st July 2021. Wages in the Retail Award will increase from 1st September 2021 and the rates in 21 other awards for some industries impacted by coronavirus restrictions the increase will be delayed until 1st November 2021.

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