The national minimum wage will increase to $719.20 per week or $18.93 per hour.
Pursuant to the 2018 annual wage review ruling which was issued by the Fair Work Commission today:
- minimum rates of pay in Modern Awards will increase by 3.5%;
- the national minimum wage will increase to $719.20 per week or $18.93 per hour (an increase of $24.30 per week to the weekly rate or 64 cents per hour to the hourly rate);
The increase in minimum wages will take effect from 1 July 2018.
Given the above, employers should review their pay arrangements and ensure they are prepared for the increase in wages.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. Madgwicks is a member of Meritas, one of the world's largest law firm alliances.
