New National Minimum Wage from 1 July 2018:

Fair Work Commission Decides on a 3.5% Increase in Annual Wage Review

The Fair Work Commission’s Annual Wage Review on 1 June 2018 determined that employees paid the National Minimum Wage will see an increase of $24.30 per week or 3.5% in wages.

That is, the National Minimum Wage will increase from $694.90 to $719.20 for a 38 hour week, of $18.29 to $18.93 per hour.

The minimum wage rates contained in modern awards have also been increased by 3.5%. Casual loading remains at 25%.

The Fair Work Commission’s full report is available here. A summary of that review is available here.

This wage increase comes into effect from the first full pay period on or after 1 July 2018.

As a result, applicable employee superannuation payments will increase correspondingly.

Do you need to re-assess your employee’s salaries or wages to comply with the new rates?

Gavin Parsons and Associates can assist you with any questions you have regarding your legal obligations to your employees or your rights as an employee. Please contact Gavin Parsons and Associates on (02) 9262 4471 for a free no obligation consultation today.