By Danica Leys, AgChatOZ
Many employers would be aware of the minimum wage decision that was handed down prior to the end of the last financial year. The changes contained in that decision are to have taken place from the first pay period after 1 July 2014. If you are not yet aware, this article serves as a good reminder to get on track with paying your employees the correct wage as it is important to remain compliant with your legal obligations as an employer.
The decision was handed down by the Fair Work Commission Minimum Wage Panel on the 5th July, 2014. It means that the national minimum wage will go from $622 per week to $640.90, or $16.87 per hour. This represents around a 3% rise. All employees that are reliant on award rates of pay will be affected by this decision.
As an employer there are a number of things that you need to check, depending on your situation. In summary, these are:
If you are unsure about how these changes affect you as an employer, you can contact the Fair Work Commission for clarification.
Disclaimer: the information provided in this article is general in nature and should not be used as a substitute for legal advice.