Fair Work Commission increases minimum wages by 2.6%
By Chao Ni, Associate, MST Lawyers
The Fair Work Commission’s minimum wage panel decision on 3 June 2013 increased award minimum wages by 2.6%.
The decision lifts the federal weekly minimum wage from $15.96 per hour ($606.40 per week) to $16.37 per hour ($622.20 per week). In making its decision, the Fair Work Commission stated that this year’s 2.6% minimum wage increase is lower than last year’s 2.9% increase partly due to the scheduled increase to the minimum superannuation guarantee rate from 9% to 9.25% as well as other various economic trends.
The increase to minimum wages will take effect from the first full pay period that starts on or after Monday, 1 July 2013.
All employers, including businesses who are party to a registered agreement (e.g. certified agreement, collective agreement, enterprise agreement, AWA or ITEA), must ensure that employees’ base rates of pay meet or exceed new minimum rates of pay.
MST Lawyers offer an Annual Updater Service to assist employers that are uncertain how to calculate the new minimum wage rates that apply to their workforce. For further information regarding the Annual Updater Service and the 2013 wage increase, please see the attached.
For further information, please contact our Workplace Relations team on (03) 8540 0200.