As most of you will now be well aware, the Fair Work Commission
recently announced an increase of $40 to the National Minimum Wage,
which amounts to an increase of 5.2 per cent.
We analysed the response to the announcement, the impact we
think this will have on business and what employers need to do
moving forward.
The National Minimum Wage will be increased to $812.60 per week
or $21.38 per hour.
FWC President Iain Ross further announced an increase to modern
award minimum wages by 4.6 per cent subject to a minimum increase
for adult award classifications of $40 per week.
The $40 per week increase is based on a 38-hour week for a
full-time employee. In effect, modern award minimum wage rates
above $869.60 per week will receive a 4.6 per cent adjustment, wage
rates below $869.60 per week will be adjusted by $40 per week.
