It is that time of the year again where the Fair Work Commission announces its annual wage review. As of 1 July 2015 there is a 2.5% increase to minimum wages. This change applies to workers employed under the national minimum wage or a modern award. The increase will see the national minimum wage increase to $656.90 per week or $17.29 per hour and modern award minimum wages increased by 2.5%.
If you operate a business with employees, you will need to review the relevant rates of pay under the modern award that applies to your business and employees to ensure that you are paying at least the minimum rates of pay. For those businesses that employ workers under an enterprise agreement, you will need to review the rate of pay set out in that agreement against the relevant modern award and ensure that the rate of pay is at least equal to, or greater than the minimum rate set out in the modern award.