Federal National Minimum Wage Increase
The Fair Work Commission has announced there will be an increase to the National Minimum Wage from 1 July 2020 and an increase to Modern Award Rates from either 1 July 2020, 1 November 2020 or 1 February 2021, depending on the award.
Download the list of awards with start date for annual increase to understand when the increase applies to your business.
Summary of changes:
- A 1.75% increase to the National Minimum Wage, taking it to $19.84 per hour (and $753.80 per week for a full-time employee), from 1 July 2020.
- A 1.75% increase to Modern Award Rates, from either 1 July 2020, 1 November 2020 or 1 February 2021.
Sit tight, you don't need to act yet!
This decision just confirms the basic increase to minimum rates. Confirmation of the specific rates for each modern award (including new allowance rates) has not yet been released.
The Money Edge | Bundaberg