National Minimum Wage Increase

National Minimum Wage increase

From 1 July 2024, the National Minimum Wage will increase by 3.75%. The new National Minimum Wage will be $915.90 per week or $24.10 per hour. The new National Minimum Wage will apply from the first full pay period on or after 1 July 2024. This means if your weekly pay period starts on Wednesday, the new rates will apply from Wednesday 3 July 2024. The National Minimum Wage applies to employees who aren’t covered by an award or agreement.

Award minimum wage increase

The Commission has announced that minimum award wages will increase by 3.75%. This increase will apply from the first full pay period starting on or after 1 July 2024. This means if your weekly pay period starts on Wednesday, the new rates will apply from Wednesday 3 July 2024. All awards will increase & I will circulate updates when available later in the month. Please remember there is also a .5% increase to super upto 11.5%. The cost to employers is 4.25% increase combined. Employers with agreements need to check that Minimum rates remain ahead of the awards to be compliant.