The new minimum wage rate is now in effect. This new wage has come into effect from the first pay period on or after July 1st 2017. The national minimum wage is going to increase to 18.29 an hour, or 694.90 a week. Employers need to check the new wage rates that apply to their business so that they can compensate their workers the right amount of money. This is a very complicated matter and will effect many people.
Key Takeaways:
- As of July 1 2017, a new national minimum wage will come into effect, increasing the minimum wage in Australia by 3.3% according to the Fair Work Commission.
- Information and help is available for employers who need it as they make the transition to the new wage rates.
- The Fair Work Ombudsman provides online informational materials about these changes as well as free online accounts for employers to receive important updates.
“It is important that employers act immediately to pass on the new wage rates to their employees from the first pay period after 1 July and ensure that their workers are receiving their lawful entitlements.”
Read more: https://insidesmallbusiness.com.au/planning-management/new-minimum-wage-rate-now-in-effect
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