The Fair Work Commission announces a 3% increase to minimum wages
The Fair Work Commission minimum wage panel decision of 4 June 2014 announced a 3% increase to the Federal Minimum Wage Rate.
The decision lifts the federal weekly minimum wage from $16.37 per hour ($622.20 per week) to $16.87 per hour ($640.90 per week).
The increase to minimum wages will take effect from the first full pay period that starts on or after Tuesday 1 July 2014.
Businesses covered by a Registered Agreement
Businesses that are party to a registered agreement (e.g. certified agreement, collective agreement, enterprise agreement, AWA or ITEA) must ensure that the base rates of pay provided under that agreement meet or exceed new minimum base rates of pay under the relevant underpinning modern award.
Award Covered Employers
Businesses that are not party to a registered agreement will be covered by modern award rates of pay. The increase to minimum rates of pay will also flow through to penalty rates and overtime loadings payable under the relevant modern award.
Confused? Need help?
MST Lawyers offers an Annual Updater Service to provide businesses with a summary of minimum wage rates that apply in the 2014/15 financial year.
Businesses that register for the Annual Updater Service will be provided a summary of new minimum wage rates for each job classification contained in the relevant modern award or, if applicable, in its registered workplace agreement.
To register for the Annual Wage Updater service, please click for information of the fixed fee cost associated with the update and our registration form.