Latest Developments in Wage Awards: Fairwork Issues Update on 3.5% Minimum Wage Rise

As we are all aware, each year the Fair Work Commission reviews wages for potential increases at the end of each financial year.

The latest review determined that this year’s minimum wage increase will be 3.75% effective from 1^st July 2024.

• The rise was announced by the Fair Work Commissioner last week.
• This means that employees will see their hourly rate increase from $23.23 to $24.10 from July 1 due to this decision, taking the minimum weekly pay packet to $915.80.

Fair Work Commission President Adam Hatcher said that the decision will flow through to the pay packets of all whose wages are set by industry awards.

• Casual employees will receive a 25% increase in their hourly rate, while those who are 20 years or under (young award-free employees) will also receive a percentage increase, based on their age.

• Our lawyers will be releasing the updated wage award tables at the end of the month. All APAN members will receive this information in our forthcoming newsletter.

You can also access the updated awards on the Fair Work Ombudsman’s website under their Pay Guides for each award. However, members can contact APAN for their industry-specific award and to request any further clarification or concerns about the obligations.

• If you are already paying your employees above the award rate you will not need to increase your pay rate, however, if the new increase means that your current rate is lower than the increase, then you will be required to at the very least match your minimum wage.
• Please review these changes and ensure that you are compliant.

What about superannuation?

• Please also note that as of the 1^st of July, the minimum superannuation rate will also increase by 0.5% from 11% to 11.5%.

We confirm that all APAN members can receive free HR and Wage Award advice by contacting us on 07 5593 0360 or emailing your request here