NEWS ALERT - ANNUAL WAGE REVIEW – 3% INCREASE AWARDED
The Fair Work Commission (FWC) announced today an increase to the National Minimum Wage and Modern Award wage rates by 3%. The FWC has determined that from the first full pay period on or after 1 July 2019 the following will occur:
The National Minimum Wage (NMW) be increased by 3% meaning the new NMW will be $740.80/week or $19.49/hr; and
All Modern Award minimum wage rates be increased by 3%.
What does this mean?
The impact of this decision will vary depending on whether or not your business is covered by the decision and how you are currently paying your employees. For example if you are paying your employees strictly in accordance with the minimum wages provided for in your Modern Award then the 3% increase will automatically apply. If however your business is applying other registered industrial instruments, or individual employment agreements (contracts) then the impact of the increase will need to be carefully considered in the context of these arrangements to ensure that your business is not exposed to significant fines and penalties for an underpayment of wages.
Need Assistance ?
Each year SWS provides advice and support to a wide range of Employers in interpreting and applying Modern Awards and the impacts of the annual wage increase. If you need assistance please contact one of our expert workplace relations team members on 07 46915046 or firstname.lastname@example.org.