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June 2023 saw the introduction of some more good news for employees. The Fair Work Commission (FWC) has recently released its Annual Wage Review 2022-23 decision, bringing significant improvements to minimum wages. Let’s delve into the details and understand how these changes will impact employees.
Minimum Wage Increase Key Points
National Minimum Wage Increase
Starting from July 1, 2023, the National Minimum Wage will rise from $21.38 to $23.23 per hour ($882.80 per week for a 38-hour week). This aligns with a higher minimum award classification, ensuring a better minimum wage structure for employees.
Modern Award Minimum Wages
Modern award minimum wages will increase by 5.75%. This adjustment aims to address wage fairness and maintain pace with economic conditions, benefiting a significant portion of the Australian workforce.
What Employees Need to Know
- From 1 July 2023, ensure that your employer pays you at least the minimum wage specified in your award. This applies even if your employer has an enterprise agreement in place.
- From 1 July 2023, the superannuation guarantee rate will also increase from 10.5% to 11%
- Your employer should review and implement the above changes where applicable to you and your employment. However, if this does not occur, you are entitled to request that the changes be made in line with the recent Annual Wage Review, and without any fear of adverse treatment.
If your employer does not believe the changes apply to you or if there is any dispute as to your entitlements, please reach out to us for expert employment law advice and assistance.
