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ARTICLE · 01 JULY 2014

What's changing from 1 July 2014?

As another new financial year rings in more important changes and new rates apply from 1 July 2014.

AustraliaCorporate/Commercial Law

As another new financial year rings in more important changes and new rates apply from 1 July 2014. A snapshot of these changes is set out below.

EFFECT OF CHANGES FROM 1 JULY 2014 NEW LEVELS FROM
1 JULY 2014
  1. WAGE INCREASES
  • The National Weekly Minimum Wage that applies to employees not covered by an award or agreement ("award/agreement free employees") has increased from $622.20 per week or $16.37 per hour
$640.90 per week or $16.87 per hour
  • The casual loading for award/agreement free employees has increased from 24%
25%
  • All modern award minimum wage rates have increased by 3% (rounded to the nearest 10 cents)
  • Modern award transitional provisions cease to apply from the first full pay period on or after 1 July 2014

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