Minimum Wage Increases in Australia

Starting 1st July, 2024, the national minimum wage and all modern award minimum wages will rise by 3.75%. This exciting change was unveiled on June 3, 2024, as part of the Fair Work Commission (FWC) Expert Panel’s Annual Wage Review for 2023-24. 

 

What are the key changes to the minimum wage? 

Attention Employers: Key outcomes of the 2024 Annual Wage Review are here, and they bring significant changes you need to know: 

National wage boost: A 3.75% increase means: 

  • Weekly minimum wage jumps from $882.80 to $915.90—a $33.10 increase. 
  • Hourly minimum wage rises from $23.23 to $24.10—an extra $0.87 per hour. 
  • Modern award minimum wages are also getting a 3.75% bump across the board. 
  • Casual loading for award or agreement-free employees remains steady at 25%. 

 

Oh no, I think I have underpaid my employee 

In the instance where you have underpaid your employee, it is crucial to:

  1. Figure out how long the employee was underpaid
  2. Figure out the amount the employee was paid and what they were entitled to be paid
  3. Calculate the amount the employee has been underpaid
  4. Discuss with the employee and confirm back payment arrangements

 

Moving Forward 

As a business and an employer, it’s crucial to make sure your employees receive the correct pay according to the new wage changes. Keeping up with these adjustments not only ensures compliance but also shows your commitment to fair compensation. 

 

Key takeaways 

  • The national minimum wage is increasing by 3.75% 
  • Employers should align their payments to reflect the change 

 

Gladwin Legal are experts in Employment Law and have extensive experience in advising businesses. If you require assistance in understanding your legal obligations, please contact us at or 1300 033 934.