A reminder if you’re an employer, you should have checked your payroll to make sure you’re paying the correct rates following increases to minimum wages by now.
On 2 June 2023, the Fair Work Commission and an expert panel, announced the Annual Wage Review results. The minimum wages outlined in modern awards were increased by 5.75 percent from 1 July 2023.
Additionally, the National Minimum Wage was raised to $23.23 per hour or $882.80 per week, up from the previous rate of $21.38 per hour.
The Superannuation Guarantee contributions rate also rose to 11 percent and expense-related allowances paid to employees were increased by 5.75 percent.
NatRoad’s easy guide to the changes is here.
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