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ARTICLE · 09 JULY 2024

Workplace Wrap - July 2024

K&L Gates
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As we find ourselves in the new financial year, a number of the key financial thresholds relating to employees have increased.

AustraliaEmployment and HR
Michaela Moloney
Michaela Moloney
Nick Ruskin
Nick Ruskin
Carla Camassa
Carla Camassa

As we find ourselves in the new financial year, a number of the key financial thresholds relating to employees have increased. Click here to view our summary of the key thresholds for the 2024/2025 financial year for employers.

From 1 July 2024, the national minimum wage has increased by 3.75% to AU$24.10 per hour.

Award minimum wages have also risen by 3.75%.

In reaching this conclusion, the Fair Work Commission has cited cost-of-living pressures, particularly among low-income households. The Fair Work Commission noted that award minimum wages in particular remain "in real terms, lower than they were five years ago", resulting in financial challenges for award income driven households.

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